Global index provider MSCI Inc. is putting off the inclusion of Chinese stocks in its emerging markets index, pending further efforts by China to integrate with global capital markets.

The firm said Tuesday that it is delaying the addition of China A shares to the MSCI Emerging Markets Index, citing ongoing efforts by Chinese authorities to improve the accessibility of these shares for global investors. These measures aim to address some of the major impediments to inclusion, MSCI said, including resolving issues regarding beneficial ownership, enhancing the regulations for suspending trading, and policy changes to address quota allocation and capital mobility restrictions.

The decision follows a consultation that MSCI carried out to gather feedback from market participants on the potential inclusion of China A shares. Investors stressed the need for “a period of observation” to assess the effectiveness of the policy efforts, the index provider said.

As well, there are policy issues that have yet to be addressed, such as a 20% monthly repatriation limit that “remains a significant hurdle for investors that may be faced with redemptions such as mutual funds,” MSCI added, and local exchanges’ pre-approval restrictions on launching financial products.

MSCI said it will revisit the issue in June 2017, but did not rule out earlier inclusion if “further significant positive developments” happen before then.

“There have been significant steps toward the eventual inclusion of China A shares in the MSCI Emerging Markets Index,” said Remy Briand, managing director and global head of research at MSCI, in a statement. “They demonstrate a clear commitment by the Chinese authorities to bring the accessibility of the China A shares market closer to international standards. We look forward to the continuation of policy momentum in addressing the remaining accessibility issues.”

“International institutional investors clearly indicated that they would like to see further improvements in the accessibility of the China A shares market before its inclusion in the MSCI Emerging Markets Index,” Briand added. “In keeping with its standard practice, MSCI will monitor the implementation of the recently announced policy changes and will seek feedback from market participants.”