A decade after entering China's financial market, institutions taking part in the Qualified Foreign Institutional Investors program are increasingly interested in the nation's stock market, which they hope will further expand.

Analysts said although QFII capital has not been significant enough to have an obvious impact on the market, expanding QFII quotas could change the picture of the A-share market.

QFII investors own about only 1 percent of the free float in the mainland's equity market. But if the QFII program expands, it might have bigger impact, said Zhang Qi, an analyst with Haitong Securities Co Ltd.