Despite a slowing economy, China's stock market has emerged as one of the best places in Asia to invest in due to its "very, very attractive" valuation, according to global investment house Fidelity International.

There have been more and more signs of a slowdown in China's economy, which is the largest in Asia and second-biggest globally. The country has been embroiled in a trade fight with the U.S., which contributed to the more than 24 percent plunge in Chinese shares last year — their worst performance in a decade.

But when asked where is the safest place to put money in, Medha Samant, investment director for Asian equities at Fidelity International, replied: "It's really north Asia, it's being led by China, we think."

Samant told CNBC's "Squawk Box" on Friday that Chinese stock valuations are looking "very, very attractive right now."

"What matters to us as active investors is ... what's happening on the ground in China," she said, adding that measures taken by Chinese authorities in recent months to support the economy have helped to raise to the attractiveness of Chinese stocks. Some of these measures include tax cuts and reduction in the amount that banks must hold as reserves.