Over the years, trade and economic ties between Zhejiang and Hong Kong have increased significantly.

By the end of 2017, Hong Kong companies had set up over 24,800 branches in the East China province with a total investment of $211.5 billion, according to Margaret Fong, director of the Hong Kong Trade Development Council.

Meanwhile, the official data from Zhejiang shows that Hong Kong is the first choice for Zhejiang companies' outbound investment. By 2017, an investment of $17 billion had been made in Hong Kong from Zhejiang companies.

Hong Kong Trade Development Council and Hangzhou government sign a memorandum of understanding to further cooperation in the high-end service industry in Hangzhou, Zhejiang province on May 16. [Photo/zjol.com.cn]