Hong Kong's banks and insurance companies will be allowed to play a bigger role in the mainland, Vice Premier Li Keqiang said at a forum in Hong Kong on Wednesday.

Hong Kong's insurance companies will be allowed to enter the mainland market in the form of equity participation. The development of insurance products will also be strengthened.

Support from the central government will be given to build Hong Kong into an international asset management center.

It will help Hong Kong and the mainland work together to overcome the impact of international financial volatility, Li said.

Central government will also continue supporting mainland enterprises listed in Hong Kong, he said.

Li visited Hong Kong insurance companies set to enter the mainland this afternoon.

Earlier today he visited Hong Kong Exchanges & Clearing Limited, where he was given a trader's vest as a gift.