BlackRock Inc. unit BlackRock Fund Advisors has become the first asset manager in the U.S. to receive a Qualified Foreign Institutional Investor license from the China Securities Regulatory Commission.

With the license, BlackRock will be able to invest in China's domestic capital markets, including A­ share and onshore bond markets, according to a Dec. 14 release.

In addition, certain BlackRock-managed funds can now apply for investment quota under the license from China's State Administration of Foreign Exchange.