The House of Representatives’ Select Committee on the Chinese Communist Party filed a letter Monday announcing a probe into asset management titan BlackRock.
"Like many global asset managers, BlackRock offers our clients a number of strategies to invest in or exclude China from their portfolios. The majority of our clients’ investments in China are through index funds, and we are one of 16 asset managers currently offering US index funds investing in Chinese companies," BlackRock told FOX Business in a statement.
Larry Fink, chairman and chief executive officer of BlackRock, speaks at event on the sidelines of the opening day of the World Economic Forum in Davos, Switzerland."With all investments in China and markets around the world, BlackRock complies with all applicable U.S. government laws. We will continue engaging with the Select Committee directly on the issues raised," BlackRock added.
In addition to security risks posed by investment in CCP-adjacent entities, the House committee also alleges that large amounts of U.S. capital is being directed toward Chinese companies with records of
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