An important change is being considered by index provider MSCI that could give investors a good reason to own China A shares.
If China allows the yuan to weaken, as it's doing now, that helps manufacturers maximize profits from exports. But a weaker currency makes the cratering stock market even less attractive.
The flight of Chinese portfolio managers this year after massive share price losses and amid a criminal crackdown may erode foreign investor confidence.
China is opening up its over-the-counter market to foreign investment funds, though it may be a while before these funds decide to wade into this murky, thinly traded market.