American global investment management company BlackRock Inc. launched its first onshore equity fund in China, Xinhua News Agency reported.

BlackRock China A-Share Opportunities Private Fund 1 was set up by BlackRock Investment Management (Shanghai) Co. Ltd., the firm's wholly owned unit in China, according to the July 5 report. It has also been registered with the Asset Management Association of China.

The fund will use technology and big data to invest in the mainland's onshore capital market and will target qualified institutional and high-net-worth investors.