Fidelity and BlackRock are reportedly planning to launch products to meet China's demand for offshore funds.

Insiders revealed that Fidelity International is preparing to launch some products to attract mainland investors seeking higher returns from overseas funds. The insiders said that the global asset management company is considering seeking approval for its products under the existing mutual recognition mechanism, which has a ten-year history. The insiders also added that the company plans to cooperate with its Chinese joint fund company to carry out domestic distribution business. Another insider said that BlackRock is also devising similar plans. A spokesperson for Fidelity International stated that the company is exploring "a variety of opportunities across asset classes" within the mutual recognition mechanism.