Shanghai has welcomed six prominent international asset managers to participate in cross-border investment pilot schemes, almost one year after it outlined ambitions to become a global hub for asset management by 2025.

Hamilton Lane, CCB International, CDH Investments and JAFCO Asia (Phase II) have been given access to Chinese private markets assets via the Qualified Foreign Limited Partner (QFLP) program, while BlackRock and An Zhong (AZ) Investment Management have obtained the Qualified Domestic Limited Partnership (QDLP) licence, according to Shanghai Financial Regulatory Bureau.

AZ Investment Management is a wholly-owned subsidiary of Italian asset manager Azimut Group. It began to launch, manage and sell onshore private securities funds to institutional and wealthy investors on the Chinese mainland in 2018.