Brazilians Jo and Ronaldinho have both been linked to the club and Hughes did little to dampen the speculation about high-profile signings.
He said: "There's a lot of talk about the quality of players that can come here. If they're available at the right price I will be interested."
Having led former club Blackburn to three consecutive top-10 finishes, Hughes has set his sights on Europe and silverware with City. He said: "I had a fantastic time at Blackburn. It was difficult on occasions with the amount of finance available - I knew the limit to how far I could take the club and it's a case now that I'm at club that can match my ambitions.
"My ambition is to take the club forward - I've been at a club that has had three top 10 finishes and three cup semi-finals and I want to move on from that and start winning trophies. The ambition of the club is to challenge at the top table - not only in this country but in Europe."
Hughes believes he will handle the pressure to succeed at City. He added: "Every Premier League manager is under pressure. It doesn't faze me - it's something you have to work with and you have to thrive on it."
