The SAR government on Thursday signed a cooperation agreement with the nation's Ministry of Industry and Information Technology on developing new quality productive forces.

Speaking at the signing ceremony in Beijing, Chief Executive John Lee said the SAR should leverage its advantages to promote China's push for high-quality development.

"Under the principle of 'One Country, Two Systems', Hong Kong enjoys the unique advantage of being backed by the motherland and connected to the world. Being an international financial, shipping, and trade centre, Hong Kong is currently establishing itself as a hub for international high-end talent," he said.

"The SAR government will actively develop new quality productive forces, advance new industrialisation, and promote Hong Kong's better integration into the national industrial innovation system."

Meanwhile, Minister of Industry and Information Technology, Jin Zhuanglong, said mainland authorities will strengthen its cooperation in developing artificial intelligence, new energy, biomedicine and the digital economy with the SAR.