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FINANCE

Fidelity International’s Shanghai Subsidiary Gets OK to Invest in China Markets

By Yue Yue and Wang Yuqian

(Beijing) — The Shanghai subsidiary of Fidelity International has received approval to invest in China’s stock markets for domestic clients, the first wholly foreign-owned institution to get such approval after the country promised last year to further open its securities markets to foreign fund managers.

The firm, established in 2015 in the Shanghai Free Trade Zone, now is licensed as a private fund manager with the Asset Management Association of China, according to the association’s website.

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