'Northbound' mainland-Hong Kong bond connect to operate Monday

Qualified overseas investors will be able to invest in the Chinese mainland interbank bond market via the mainland-Hong Kong bond connect program starting Monday, an official statement said Sunday.

Relevant law and regulation, business rules, operation scheme, and regulatory arrangements have already been determined, while the technical system is also in place, according to the joint statement by the People's Bank of China and Hong Kong Monetary Authority.

The "northbound" bond connect, which allows qualified overseas investors buy bonds in the mainland interbank bond market either with Chinese yuan or foreign currencies, will be operating on a trial basis, according to the statement.