The Belt and Road Initiative will increase cooperation between Shanghai and Hong Kong, bringing new momentum to the development of both cities, officials and experts said at a forum in Shanghai on Thursday.

The forum was held in the run-up to the 20th anniversary of Hong Kong's return to China on July 1.

"Hong Kong has a rich history of international services, wide connections in the international community and is familiar with international trade rules," said You Anshan, director of Shanghai Academy of Social Sciences' Hong Kong and Macao Studies Center.

"Meanwhile, Shanghai, which leads the Yangtze River Economic Zone that includes nine provinces and two municipalities along the Belt and Road routes, far surpasses Hong Kong in terms of engineering construction and the manufacture of large-scale equipment — an important part of the initiative."

The key to deepening cooperation is for the cities to effectively integrate their resources and complementary advantages, he said.

"In the years ahead, the two cities will see cooperation and development in multiple areas, such as finance, trade, shipping, talent cultivation, information technology, scientific and technological innovation, and industrial upgrading, thanks to the initiative," said Regina Ip Lau Suk-yee, a Hong Kong legislator and chairwoman of the New People's Party.