Morgan Stanley Capital International (MSCI) has started to review China A-shares for a potential inclusion in its emerging markets index.

The possible inclusion was "driven primarily by a series of positive market opening measures and strong regulatory momentum," MSCI said in its 2013 annual market classification review.

"Such an inclusion is expected to increase investors' attention on China's stock markets," Lian Ping, chief economist at Bank of Communications, told Xinhua News Agency.

Over the past year, Chinese regulators have made strides in opening the mainland market. They increased the total quota limit for the qualified foreign institutional investor (QFII) program, relaxed QFII entry requirements and sped up the application and license-granting process. Regulators also removed several restrictions for the renminbi qualified foreign institutional investor program.

MSCI benchmarks are closely followed by most of the world's large investors.