BlackRock Photo: VCG

US financial institute BlackRock said the reported selling of an office tower in Shanghai will have no impact to the company's operation, and vowed to continue its business in China, China Securities Journal reported on Monday.

BlackRock's spokesperson said in the report that the company won't comment on any single investment project, noting that the incident was unrelated to BlackRock Found and BlackRock CCB Wealth, and that it has no impact to the operation of the company.

It was reported that BlackRock is seeking to sell an office complex in Shanghai at about 30 percent discount to its purchase price as some interpreted this news as BlackRock planning to sell the location of its Shanghai team office.

The office tower is a project invested by offshore private equity fund managed by the BlackRock Asia Pacific real estate team, and the act was a normal investment process, according to the China Securities Journal.

BlackRock's spokesperson was cited as saying "We will continue to commit to our long-term development strategy in China, aiming to meet the investment needs of domestic investors and assist them in achieving their financial goals."

Global Times