Fidelity Investments has opened a back-office operation in China, in a port city in the northeast by the name of Dalian, becoming the first foreign fund company to do so, Financial Times reports.

The office will employ several thousand people, possibly making it second in size to Fidelity’s back-office operations in India, where it employs 9,000 staff, said Brett Goodin, head of Fidelity Asia.

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