The inclusion of China's onshore bonds in major global indexes will accelerate over the next couple of years, according to fund managers in Hong Kong.

Bloomberg announced on Wednesday that its Bloomberg Barclays bond indexes will launch two new indexes to incorporate components of the China Aggregate Index and is likely to include onshore Chinese government bonds and some bank debt in its flagship global aggregate index.

Also according to Bloomberg, US global investment management corporation Black Rock Inc said China's inclusion in major global bond indexes may be announced this year.

Bryan Collins, portfolio manager at Fidelity International, said he believes the inclusion will be an encouraging step to reinforce the relevancy and importance of RMB bonds in the global fixed income market, although the change will be a progressive process which will take a couple of years.

The Chinese mainland is home to the world's second-largest stock market and the third-largest bond market, Collins noted, adding that the inclusion of RMB bonds into global indexes will help raise the profile of the China market among investors.

Growing global attention toward Chinese bonds will also help China accelerate the reform of its domestic regulatory regime, and introduce best practices from global markets.

Collins said Fidelity has been investing in onshore bonds for "quite some time" and its exposure is likely to increase over time.

Bloomberg also announced on Tuesday changes to its Bloomberg Barclays fixed income indexes and currency indexes. Owned by parent company Bloomberg News, the former Barclays Risk Analytics and Index Solutions business, including benchmark indexes, has been co-branded as Bloomberg Barclays Indexes.