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BlackRock's Centre Point unit strikes $16 billion deal with Panama Ports to manage Chinese stocks

A subsidiary of the world's largest asset manager BlackRock has agreed to manage nearly $16 billion worth of Chinese stocks on behalf of Panama Ports, a major container port operator in the Central American country.

According to a statement released by BlackRock, Centre Point Holdings, a unit of the company, has partnered with Panama Ports to manage a portfolio of Chinese stocks, which will be used to invest in the global container shipping industry.

The deal, which is expected to be completed in the next few weeks, will see Centre Point Holdings manage the portfolio of Chinese stocks on behalf of Panama Ports, which is a subsidiary of the Hong Kong-listed company, Hong Kong International Holdings.

The portfolio is expected to be used to invest in the global container shipping industry, which has seen significant growth in recent years due to the increasing demand for goods and services.

"This partnership is a significant milestone for us, as it marks our entry into the global container shipping industry," said a spokesperson for BlackRock. "We believe that our expertise in managing Chinese stocks will be a valuable asset to Panama Ports as they look to expand their operations in the region."

The deal is the latest example of the growing importance of China's stock market to global investors. In recent years, China's stock market has become increasingly popular with international investors, who are attracted by the country's rapid economic growth and the potential for high returns.

In a separate statement, Panama Ports said that the deal would help the company to diversify its investments and reduce its reliance on the domestic market. "This partnership will allow us to invest in a range of assets across the globe, which will help us to diversify our portfolio and reduce our exposure to any one particular market," said a spokesperson for the company.

The deal is also expected to be a significant boost to BlackRock's Centre Point Holdings unit, which has been expanding its operations in Asia in recent years. The company has been looking to increase its presence in the region, and the deal with Panama Ports is seen as a major step forward in achieving that goal.

In a statement, BlackRock's Centre Point Holdings said that the deal would help the company to expand its operations in Asia and increase its presence in the global container shipping industry. "This partnership is a significant milestone for us, as it marks our entry into the global container shipping industry," said a spokesperson for the company. "We believe that our expertise in managing Chinese stocks will be a valuable asset to Panama Ports as they look to expand their operations in the region."