Index giant MSCI to add 234 China A shares to indexes

China's stock market is further going global as MSCI Inc, the global index provider, announced on Tuesday it will list 302 China shares in its MSCI China Index, according to a report by Bloomberg.

A list of 234 China A shares will be added to MSCI’s market indexes, including the MSCI Emerging Markets Index, on June 1, MSCI said in a press release.

The list was based on MSCI's May index review, which had added 11 companies and removed nine from the MSCI China A Inclusion Index, an index designed to represent the performance of China A shares included in the MSCI China Index.

Industrial and Commercial Bank of China, China Construction Bank, Petrochina Co, Vanke and ZTE Corp are among the China A shares that will be included in the list.

MSCI said the 234 China A-share companies have a combined market capitalization of $21.969 billion, according to a report by Reuters.

Shanghai Electric Group, ZhongAn Online P&C Insurance and China Lodging Group will be the three largest additions to the MSCI China All Shares Index, according to MSCI.

The 234 China A shares will represent aggregate weights of 1.26 percent and 0.39 percent respectively in the MSCI China Index and the MSCI Emerging Markets Index at a 2.5 percent foreign inclusion factor, MSCI said.