Chief Executive John Lee attended the Hong Kong-Zhejiang Cooperation Conference on Thursday, marking the establishment of a new cooperation mechanism between the two places.

During the plenary session, both governments established 13 key areas of cooperation with 51 projects, including finance, aviation, and the joint development of the Belt and Road Initiative.

Four cooperation agreements were signed, covering technological innovation, housing development, economic and trade cooperation, and youth development.

In his speech, Lee said the new mechanism has brought cooperation between the SAR and Zhejiang province to new heights.

"We will work together to promote high-quality trade development, utilising Hong Kong's advantages as an international trade centre and multinational supply chain hub, along with Zhejiang's strengths in digital economy," he said.

The SAR is also nurturing emerging industries, such as life and health technology, AI and robotics, all of which Lee pointed out can be developed in synergy with Zhejiang.

In a Facebook post, Lee noted the SAR is Zhejiang’s largest source of investment and an important platform for the province's enterprises to go global.

The CE added that he believes the exchanges between the two places will greatly benefit the nation's reform, opening up and rejuvenation.

Zhejiang province party secretary Wang Hao, and executive deputy director of the Hong Kong and Macau Affairs Office Zhou Ji, also attended the meeting in Hangzhou.