More than 10 additional banks will be approved to invest overseas under China's Qualified Domestic Institutional Investor program by year's end, The Wall Street Journal reported. Once QDII reaches a certain scale, it could help reduce appreciation pressure on the yuan, said the paper, quoting Li Fu'an, a director at the China Banking Regulatory Commission, as saying. Analysts say they expect the program, announced in April, to release pent-up demand from domestic investors to diversify their asset holdings by moving some funds abroad. The program marks a major step toward China opening its capital account by allowing more funds to flow abroad.