Shanghai Opens for More Bankers at Offices as Lockdown Eases
- HSBC, JPMorgan and local banks among firms to resume operation
- Hundreds of bankers have been stationed in offices for weeks
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Shanghai is allowing more than 800 financial institutions to send employees back to the office under a closed-loop arrangement as China’s financial hub slowly emerges from an unprecedented shutdown of more than six weeks.
A total of 864 entities, including the city’s foreign exchange, stocks and futures bourses, are allowed to resume on-site operations, according to a white list notice dated Tuesday. State banks including Industrial and Commercial Bank of China Ltd. as well as the China offices of HSBC Holdings Plc, JPMorgan Chase & Co. and Fidelity International are among the first batch.