Text-Video Retrieval plays an important role in multi-modal understanding and has attracted increasing attention in recent years. Most existing methods focus on constructing contrastive pairs between whole videos and complete caption sentences, while ignoring fine-grained cross-modal relationships, e.g., short clips and phrases or single frame and word. In this paper, we propose a novel method, named HunYuan_tvr, to explore hierarchical cross-modal interactions by simultaneously exploring video-sentence, clip-phrase, and frame-word relationships. Considering intrinsic semantic relations between frames, HunYuan_tvr first performs self-attention to explore frame-wise correlations and adaptively clusters correlated frames into clip-level representations. Then, the clip-wise correlation is explored to aggregate clip representations into a compact one to describe the video globally. In this way, we can construct hierarchical video representations for frame-clip-video granularities, and also explore word-wise correlations to form word-phrase-sentence embeddings for the text modality. Finally, hierarchical contrastive learning is designed to explore cross-modal relationships, i.e., frame-word, clip-phrase, and video-sentence, which enables HunYuan_tvr to achieve a comprehensive multi-modal understanding. Further boosted by adaptive label denoising and marginal sample enhancement, HunYuan_tvr obtains new state-of-the-art results on various benchmarks, e.g.,