(Bloomberg) Billionaire investor George Soros has blasted BlackRock Inc.’s investment into the Chinese market, terming it a risk to investors and U.S. security interests.
BlackRock started offering its investment products in China after getting approval to operate there two months ago.
Soros is opposed to any close economic ties with China with a view that its current administration is against the global open market societies.
The U.S. investor now wants Congress to pass legislation that will limit asset managers’ investments only to firms with transparent governance and investor focus.
While Beijing has made market entry into the world’s second-largest economy easy, it has led a crackdown on private firms over cybersecurity and human rights abuses.
BLK: NYSE is down -1.21%.
