11.   Talks on allowing them to handle renminbi yuan business have been going on for four years, with the Shanghai PBOC intimately involved in preparations.

12.   The applications to do yuan business must be approved first by the Shanghai branch of the central bank before being submitted to Beijing for final approval.

13.   The authorities have also expressed concern that opening renminbi yuan business broadly to the outside world could have a negative impact on efforts to keep a lid on inflation.

14.   The Japanese bank is one of eight foreign bank branches approved to do trial yuan business in Pudong, where a new financial district is being formed.

15.   The opening of the yuan business is one of two major efforts China has made this year to open its financial sector wider.