Premier Li Keqiang said Wednesday 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.

Hong Kong will be the first to benefit from such an arrangement, Li told a press conference after the conclusion of the national legislative annual session.

This will help Hong Kong maintain its status as an international financial center and provide Hong Kong residents with more investment options, thus bringing them benefits and enabling Hong Kong's lasting stability and prosperity, Li said.

The premier stressed the principle of "one country, two systems" to be perceived and implemented, citing the government work report which requires the principle be steadfastly applied without being bent or distorted.

Li said the central government will continue to increase its support for Hong Kong's development, and introduce more measures conducive to Hong Kong's development and cooperation between the mainland and Hong Kong.