Regulators accelerate approvals for foreign-funded institutions
Fidelity Investments, one of the largest mutual funds in the world, launched its first private equity products in China this week
Foreign-funded institutions are finding it faster to gain permission from Chinese regulators to issue their investment products, Yicai.com reported.
Fidelity International, one of the largest mutual funds in the world, launched its first private equity products in China via a wholly foreign-owned enterprise on Tuesday. The fund will focus on investment in the A-share market.
Previously, this approval was expected to be completed by mid-January or later.
Insiders say the China Securities Investment Fund Association is now much faster at approving the registration of foreign-funded institutions and their product distribution.
Besides Fidelity International, Man Group PLC and UBS both issued their first private equity funds in China at the end of 2017. BNY Mellon also got approval to set up its wholly foreign-owned enterprise in Shanghai.