China will actively create conditions to establish a Shanghai-Hong Kong stock exchanges connectivity mechanism, Premier Li Keqiang said on Thursday.

The move aims to promote two-way opening-up and healthy development of the capital market on the mainland and Hong Kong, the premier said at the opening ceremony of the 2014 annual conference of the Boao Forum for Asia (BFA) held in south China's Hainan Province.

"We will carry out a new round of opening-up at a high level," Li said, adding that an important part of this endeavor is to further open up the service sector, including the capital market.

Li said the country will introduce a system of listing government powers, consider the adoption of a management model based on a negative list approach, accumulate useful experience through the development of the China (Shanghai) Pilot Free Trade Zone and spread it to other areas.

"This will enable us to expand market access, foster a better business environment to unleash greater dividends of reform, spark social creativity and stabilize market expectations," Li said.

The four-day conference features the theme of "Asia's New Future: Identifying New Growth Drivers" this year.