Qualified overseas investors will be able to invest in the Chinese mainland interbank bond market via the mainland-Hong Kong bond connect program from Monday, according to the People's Bank of China and the Hong Kong Monetary Authority.

Laws and regulations have already been determined, while a technical system is also in place, the organizations said in a joint statement on Sunday.

The "northbound" bond connect, which allows qualified overseas investors to buy bonds either with renminbi or foreign currencies, will operate on a trial basis.