The licence complements the firm's two other QFII licences. BlackRock received its first QFII license for its subsidiary BlackRock Institutional Trust Company in July 2011 and received an investment quota of $100 million in June 2012. Its second QFII licence was awarded in October 2012 and it received a $100 million quota in March 2013. 

"China is an important investment destination for our clients globally as it undergoes a pivotal transformation, and gradually internationalises its capital markets," said Marc Desmidt, head of strategic product management for Asia-Pacific, in a statement.

The latest grant was given to BlackRock Asset Management North Asia, its wholly-owned subsidiary, to invest in the domestic capital markets in China, including the A-share equity and onshore bond markets. The company added that it will apply for investment quotas under the licence from the State Administration of Foreign Exchange.