BEIJING — China’s central bank on May 31 issued draft rules on overseas investment in the mainland interbank bond market via the mainland-Hong Kong bond connect program.

Qualified overseas investors can buy an unlimited amount of bonds in the interbank bond market either with Chinese yuan or foreign currencies, according to the draft rules released by the People’s Bank of China (PBOC), which are open for public comment until June 7.

China approved a bond connect program between the mainland and Hong Kong earlier this month, allowing investors from both sides to trade bonds on each other’s interbank markets.

Overseas investors should register the bonds they purchase under qualified overseas trusteeship bodies, which have accounts in mainland counterparts.

The PBOC and other regulatory bodies have the right to retrieve the data of overseas investors investing in the mainland interbank bond market, according to the draft rules.

The central bank will supervise the process and work with watchdogs of other countries and Hong Kong to protect investor interests and counter money laundering, according to the draft rules.