Indosuez in Pudong

FRANCE'S Banque Indosuez has moved its Shanghai branch to the city's Pudong area in preparation for beginning yuan business, according to the official Shanghai Securities News.

China has approved nine foreign banks, including Banque Indosuez, to carry out yuan business but the banks must first relocate to Pudong, which the government is promoting as the country's premier financial and economic zone.