HONG KONG, March 15 (Xinhua) -- The Hong Kong Exchanges and Clearing Limited (HKEX) on Wednesday announced to advance preparatory work for a bond market connect between Hong Kong and Chinese mainland.

The HKEX made the announcement after Premier Li Keqiang on Wednesday said that the central government is planning to establish a bond market connect between the mainland and Hong Kong Special Administrative Region on a trial basis this year, allowing overseas capital to better access the mainland's bond market.

The HKEX believes the "Bond Connect" represents a major breakthrough in the development of the mainland capital markets and further strengthens the role of Hong Kong as a gateway between the mainland and international markets.

The HKEX is progressing with the preparatory work for the Bond Connect under the guidance of the mainland and Hong Kong authorities and a further announcement will be made by the relevant parties in due course.

Before the Bond Connect, two stock links between Hong Kong and Chinese mainland have been introduced, including the Shanghai-Hong Kong Stock Connect launched on Nov. 17, 2014, and the Shenzhen-Hong Kong Stock Connect launched on Dec. 5, 2016.