BlackRock CEO Larry Fink
gets play in London's Financial Times
after the New York asset manager opens its first office in China. The office is part of a partnership between BlackRock and the Bank of China that is opening its doors with $1.4 billion in AUM.
Fink told the paper that China is an investment opportunity in the midst of the current credit crisis.
He told the paper that while relative valuations of Chinese stocks are still high and that those stocks' prices could still fall further, there are likely some opportunities.
"I am sure in China there are a number of stocks specifically at these prices today that represent some very strong value," Fink told the Financial Times. "I think you could systematically start adding risk in Chinese equities now."
"The Chinese economy was growing 12-13 per cent; it's slowing to 8 per cent," Fink told the paper. "The world's still totally correlated but there are degrees of correlation - the US economy can go into recession and China can still enjoy very strong GDP [growth]."
Stay ahead of the news ... Sign up for our email alerts now