Since 2017, a handful of foreign asset managers have been permitted to set up onshore operations and sell investment products in China, but custody, holding clients' securities for safekeeping, has, until now, been restricted to local players. Fidelity ) has announced that it has become the third overseas bank to obtain a foreign custody services license in China , marking a further move by the China government to open up China 's capital markets. China 's equity and bond markets are now around $20tn, making it the first largest worldwide, said Jerry Zhang in the statement.
Fidelity ) has announced that it has become the third overseas bank to obtain a foreign custody services license in China , marking a further move by the China government to open up China 's capital markets. China 's equity and bond markets are now around $20tn, making it the first largest worldwide, said Jerry Zhang in the statement.