China has been introducing financial reforms in recent years to develop the international profile of its currency, but the country has done so quite cautiously and some have advocated that policymakers accelerate reforms, such as speeding up the yuan's convertibility.

Total is looking at dim sum bonds, cross currency swaps and revolving credit facilities, which are currently offered in Paris and Hong Kong, said Mr. Wendel.

"We hope these will be at our disposal in Shanghai as well," he added.

Write to Esther Fung at esther.fung@dowjones.com

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