Three more foreign banks have applied to move their main China branches to Shanghai to capitalise on the country's banking liberalisation as it prepares to join the World Trade Organisation.
The move will increase the number of such branches in the city from 21 to 24, reports Xinhua News Agency.
Of the 37 main branches of foreign banks in the country, 21 are in Shanghai.
The business scope of foreign banks has been restricted in China because of government protectionism for domestic banks.
However, some of the limitations would be removed in phases in compliance with the WTO regulations.
China is expected to join the world trade body in the first half of next year.
The latest move reflects increasing momentum of foreign firms setting up regional headquarters in the port city, which is among a handful of major cities to first open their restricted sectors to foreign investment.
