(Yicai Global) July 18 -- China may lift the quota on its Qualified Foreign Institutional Investor program, the spokeswoman for the State Administration of Foreign Exchange said today.

Beijing is considering reforming the QFII scheme and its yuan-denominated sister program, the RQFII, in order to further open up the domestic capital market, Wang Chunying said at a press briefing. It is also considering opening up other capital markets to foreign investors, she added.

The dollar-based QFII program grants licensed overseas investors access to China's yuan-based capital market, mainly stocks and bonds. Under current rules, regulators cap institutions' investments.

The RQFII scheme allows foreign investors to use offshore yuan deposits to invest in the Chinese mainland.