The first group of financial institutions, 864 in total, was approved to resume operations on Wednesday as the city's COVID-19 situation improves, local authorities said.

Financial market organizations like the Shanghai Stock Exchange, domestic and foreign-funded banks, asset managers, securities brokers, insurance companies, payment service providers and financial technology firms are among those on a "white list" slated to restart their businesses, according to documents on the Shanghai Financial Regulatory Bureau's official website.

Such white lists will be published "in principal" on a weekly basis, and industry players operating under closed-loop management will be given priority, the local watchdog said.