Barclays opens branch in Shanghai

Barclays became the latest western bank to offer a wide range of banking services to the public when it opened its first branch office in Shanghai Wednesday, the Financial Times reported. The London-based bank can now provide money market and foreign exchange trading and advise on risk management and debt financing for mainland customers. Barclays said it plans to grow its business in China without buying into local banks ahead of the country lifting restrictions on foreign banks at the end of next year.