BlackRock is turning to alternative data as is seeks to take investment analysis to a new level in China. The company has been working with the Chinese government on an initiative called “Big Data” that aims to use big data, artificial intelligence and other technologies to help companies make better decisions. While such data-analytics strategies are commonly deployed in developed markets, BlackRock is an early adopter in China. BlackRock joins an increasingly large group of foreign asset managers raising money for onshore funds in China since the first licence to do so was awarded to Fidelity International in early 2017.
BlackRock is turning to alternative data as is seeks to take investment analysis to a new level in China. The asset manager intends to use satellites, social media and reports in the Communist Party’s newspaper, the People’s Daily, to harvest data about the country’s economic landscape. While such data-analytics strategies are commonly deployed in developed markets, BlackRock is an early adopter in China. BlackRock joins an increasingly large group of foreign asset managers raising money for onshore funds in China since the first licence to do so was awarded to Fidelity International in early 2017.