A bond market trading link will be set up between the Chinese mainland and Hong Kong this year to further open the country’s securities market, Premier Li Keqiang said on Wednesday.

Li said at a news conference in Beijing that the central government will step up the effort to support the Hong Kong economy and will issue more policies to promote cooperation between the Chinese mainland and Hong Kong.

Li said the government will continue to explore the opening of the bond market after the successful launch of stock trading links between Shenzhen and Hong Kong last year.

The bond market link will allow overseas investors to buy and trade bonds in the Chinese mainland market while offering mainland investors access to the bond market in Hong Kong.

"It (the link) will support the standing of Hong Kong as an international financial center. It will also expand investment channels for Hong Kong residents and allow them to benefit from it. It is beneficial for the long-term prosperity and stability of Hong Kong," Li said.