The firm says it is leading the way by gaining the first private fund management licence in the Asian country.

Fidelity International's wholly foreign-owned enterprise in Shanghai has registered with the Asset Management Association of China as a private fund manager, obtaining what it claims to be the first private fund management licence in China.

The licence allows Fidelity International to create onshore investment products in China for eligible institutional and high net worth investors for the first time, the group said. The firm has representative offices in Shanghai and Beijing, as well as an operating centre in Dalian, employing a total of over 400 staff in China. 

“China is crucial to our global growth strategy, and as a privately-owned company, we are able to take a long-term approach to develop the best solutions for our clients to meet their investment and retirement needs,” said Mark Talbot, Fidelity International's Asia-Pacific managing director. 

To view other recent developments at Fidelity, such as a senior hire, click here.