The country has put a Shanghai-based program called the Qualified Domestic Limited Partnership on hold, according to the report. 

The partnership was supposed to allow certain foreign investment funds to sell products to wealthy Chinese citizens. The list of participants included asset managers like BlackRock and Aberdeen Asset Management.

This is a pretty big reversal. Back in April officials told Reuters they were ready to expand the program, and were getting ready to launch a second round.

However, China has acknowledged that its economy is slowing faster than it expected, and that it will need to focus on making sure too much capital doesn't leave the country as it tries to spur growth again.