On June 9th, MSCI released the results of its 2015 Market Classification Review, which revealed its expectation to include China A-shares in the MSCI Emerging Markets Index as soon as a few remaining issues related to market accessibility are resolved.
So, China A-shares' inclusion in MSCI’s Emerging Markets index is a “yes, but….”
It is a measure of the pace at which the reforms have taken place in China that MSCI is willing to show flexibility on the scheduling for inclusion. Significant strides have already been made over the last 12 months to liberalize and expand foreign investment into China’s securities market, notably the Shanghai-Hong Kong Stock Connect and the Mutual Recognition of Funds. The foreseeable launch of a Shenzhen Connect scheme is another potential driver for benchmark inclusion, and its launch will likely see a reassessment later this year.