As the first step of the partial inclusion of China A shares, 234 companies will be added to the MSCI China Index as well as relevant global and regional composite indexes as of the close of May 31, 2018, global index provider MSCI said Monday.

"There will be 234 China A shares added at 2.5% of their FIF (Foreign Inclusion Factor) adjusted market capitalization, representing aggregate weights of 1.26% and 0.39%, respectively, in the MSCI China Index and the MSCI Emerging Markets Index," MSCI said in the May 2018 Semi-Annual Index Review for the MSCI Equity Indexes released on Monday.

The second step of the inclusion will coincide with the August 2018 Quarterly Index Review, when the representation of the FIF-adjusted market capitalization of China A shares will increase to 5 percent, said MSCI.

There will be 11 additions to and nine deletions from the previous announced MSCI China A Inclusion Index, which is designed to represent the performance of China A shares included in the MSCI China Index, resulting in 234 index constituents.

There will be 40 additions to and 25 deletions from the MSCI China All Shares Index, while 23 additions and 88 deletions will be made to the MSCI China A Onshore Index, according to MSCI.

Meanwhile, 351 securities, out of which 234 are China A shares, will be added to and 53 securities will be deleted from the MSCI ACWI Index.

On June 20, 2017, the MSCI announced it would partially include the large cap China A shares in the MSCI Emerging Markets Index and the MSCI ACWI Index.

MSCI also made changes to other indexes, including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, according to the results of the May 2018 Semi-Annual Index Review. All changes will be implemented as of the close of May 31, 2018.

MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking.