• The People's Bank of China (PBOC) was not immediately available to comment.
• During the meeting, a CFETS official also warned of rising bond market volatility due to higher leverage, the sources said.

Trading will initially be extended to 8 p.m. local time from 5 p.m. currently, and will gradually cover global trading hours, according to the sources.

The announcement was made during an online conference held on Friday by the China Foreign Exchange Trade System (CFETS), which overseas China's interbank market.

Other measures to open up China's bond market include promoting foreign use of interest rate derivatives, and facilitating onshore bond purchase by overseas institutions, CFETS said at the meeting.

The People's Bank of China (PBOC) was not immediately available to comment.

China has been accelerating the opening up of its capital markets amid a domestic economic slowdown and rising tensions with the United States.

During the meeting, a CFETS official also warned of rising bond market volatility due to higher leverage, the sources said.

China has been pumping liquidity into the banking system, and guiding interest rates lower to aid the coronavirus-ravaged economy. Lower bond yields have prompted some investors to increase their leverage as a way to seek higher returns.