By Reuters Staff2 Min ReadFILE PHOTO: A dealer works as a display shows the buying and selling info for BlackRock on the ground of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid(Reuters) -Blackrock Inc has delay the launch of an alternate traded fund (ETF) that invests in Chinese bonds, amid rising pressure between Washington and Beijing, the Financial Times stated on Saturday.The world’s largest cash supervisor has “indefinitely” shelved the ETF, the newspaper stated, citing folks acquainted with the choice.According to one of many folks, the transfer was made partially due to considerations a few backlash in Washington towards bankrolling the Chinese authorities with U.S. capital, the report stated.Blackrock declined to remark.Reuters had reported earlier in April that BlackRock was planning to launch its first product in China’s $220 billion onshore ETF market later this yr and had began hiring employees accordingly.The first Blackrock ETF product was scheduled for the fourth quarter, Reuters reported, which might add to six.8 billion yuan ($1.07 billion) value of belongings the corporate manages by means of two mutual funds with investments in Chinese and Hong Kong shares.Investment agency Tiger Global additionally paused investing in Chinese equities, because it reassessed its publicity to the nation after President Xi Jinping’s cemented his grip on energy, the Wall Street Journal reported earlier this month.($1 = 7.1066 Chinese yuan renminbi)Reporting by Rhea Binoy in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.