Zhejiang and Hainan provinces are deepening cross-regional cooperation to explore new models of opening-up, with joint industrial development emerging as a key platform linking the Yangtze River Delta region and the Hainan Free Trade Port.

The Zhejiang-Hainan Cooperation Industrial Park has taken on a strategic role in connecting the Yangtze River Delta's integrated development with the growth of the Hainan Free Trade Port. The park has attracted more than 200 enterprises, with 47 projects already in place and a planned total investment exceeding 30 billion yuan (about $4.1 billion).

Institutional cooperation between the two provinces dates back to 2018, when government departments from Zhejiang and Hainan signed a strategic cooperation framework agreement, laying the groundwork for sustained collaboration.

The partnership was strengthened in Sept 2025 at the fourth Global Digital Trade Expo, where the China (Zhejiang) Pilot Free Trade Zone and the Hainan Free Trade Port signed a new agreement on coordinated innovation. The deal expanded cooperation into key areas, including institutional innovation and industrial collaboration, pushing bilateral cooperation to a deeper level.