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Fidelity International scores mutual fund license in China
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fnlondon.comFidelity International has received final approval from regulators in China to start selling mutual funds in the world’s second-largest economy, joining other global investment firms that directly manage money for individual Chinese investors.
A Fidelity subsidiary, FIL Fund Management (China), has been granted a permit from the China Securities Regulatory Commission that would allow it to offer yuan-denominated investment products to retail customers, the company said in a statement 9 December.
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