HK, Zhejiang strengthen ties with new cooperation mechanism

The new mechanism covers 13 collaboration areas, with four agreements on I&T, housing, trade, and youth.

Hong Kong and Zhejiang, a province in eastern China, have signed an agreement on the Hong Kong-Zhejiang Cooperation Mechanism, which includes four agreements.

Through this new mechanism, Hong Kong and Zhejiang reached consensus on 13 areas of collaboration. Meanwhile, the four agreements focus on innovation and technology (I&T), housing, economic and trade cooperation, and youth development.

Chief Executive John Lee, Zhou Ji, executive deputy director of the Hong Kong & Macao Work Office of the CPC Central Committee and the Hong Kong & Macao Affairs Office of the State Council, Wang Hao from the CPC Zhejiang Provincial Committee, and Zhejiang Governor Liu Jie have witnessed the signing of the agreement.

Lee noted that the new mechanism marks a significant milestone in the comprehensive exchanges and cooperation between Hong Kong and Zhejiang.

He expressed gratitude towards Zhejiang Province and its government for their support, anticipating deeper collaboration across various sectors for mutual benefits.

He added that Hong Kong and Zhejiang will seize national opportunities and leverage their respective strengths to contribute to the further reform and opening up of the country and the rejuvenation of the Chinese nation.

Additionally, Lee stressed that Hong Kong will continue to play its role as a "super connector" and "super value-adder" to assist Zhejiang in expanding its international market reach.

The chief executive also acknowledged the rapid progress of Hangzhou in the digital economy and artificial intelligence (AI), noting that Hong Kong, actively developing its own AI industry, has been implementing measures to foster AI growth.

He expressed confidence that under this new cooperation mechanism, collaboration between Hong Kong and Zhejiang cities, including Hangzhou, will strengthen, particularly in I&T.