China may add more than 10 banks to the Qualified Domestic Institutional Investor program (QDII) by the end of the year, the Wall Street Journal reported. The goal is to help reduce appreciation pressure on the yuan, according to Li Fu'an, a director at the China Banking Regulatory Commission. Eight banks are currently allowed under the program to offer offshore investment services to Chinese customers by investing in fixed-income products abroad. Six of those banks have quotas of US$8.8 billion for overseas investments. The program was announced in April and may offer a release for growing demand for more diverse investment options.