Governor of the People's Bank of China (PBOC) Pan Gongsheng on Monday said Beijing will significantly increase the proportion of its national foreign exchange reserves and asset allocation in Hong Kong, as part of efforts to boost the development of the city's financial markets.

Speaking at the 18th annual Asian Financial Forum in the SAR, Pan also said authorities will continue to deepen the financial market connectivity between Hong Kong and the mainland, to attract foreign capital.

"Prosperous capital markets are the cornerstone of Hong Kong as an international financial centre...We'll support more quality enterprises to list and issue bonds in the SAR, and continue to improve connectivity between the mainland and Hong Kong in areas like stocks, bonds, wealth management and interest rate swaps, to deepen financial cooperation within the Greater Bay Area," he told forum participants.

"We will significantly increase the proportion of our foreign exchange reserves and our asset allocation in Hong Kong to open up a broader space for Hong Kong's financial development."

Pan said the PBOC and the Hong Kong Monetary Authority will introduce relevant policies to improve Hong Kong's offshore renminbi markets, while providing more convenience regarding cross-border payment and settlements.

One of the measures is the launch of an additional renminbi trade financing liquidity fund, with terms of one month, three months and six months, totalling 100 billion yuan.

Separately, Zhou Ji, executive deputy director of the Hong Kong and Macau Affairs Office (HKMAO), said the central government will continue to support the SAR in consolidating its status as a global financial hub.

"In the future, the central government will, as always, do its utmost to support the consolidation of Hong Kong's status as an international financial centre, trade centre and shipping centre, and will support the SAR in accelerating the pace of developing scientific and technological innovation," he said.

On another note, Zhou said Beijing will continue to create new advantages by developing new quality productive forces to help with regional growth, stressing that the Chinese economy remains resilient with stable fundamentals.