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As a special administrative region of the People's Republic of China, Hong Kong will enjoy a high degree of autonomy as provided for by the Basic Law, which includes the executive, legislative and independent judicial power, including that of final adjudication. We extend our sincere congratulations to Mr. We have full confidence in the Hong Kong Special Administrative Region Government under his leadership and will give it full support.

The Basic Law of the Hong Kong Special Administrative Region shall be observed not only in Hong Kong, but also by all departments of the Central Government as well as the provinces, autonomous regions and municipalities directly under the Central Government. No central department or locality may or will be allowed to interfere in the affairs which, under the Basic Law, should be administered by the Hong Kong Special Administrative Region on its own.

After Hong Kong returns to the motherland, the overwhelming majority of the laws previously in force will be maintained. Hong Kong residents will enjoy their rights and freedoms in accordance with law and will be equal before the law.

The provisions of the International Covenant on Civil and Political Rights, the International Covenant on Economic, Social and Cultural Rights, and international labor conventions as applied to Hong Kong will remain in force to be implemented through Hong Kong's regional legislation. A gradually improved democratic system suited to Hong Kong's reality is an important guarantee for its social and political stability.

Hong Kong will, in accordance with the Basic Law, develop democracy gradually with the ultimate aim of electing the chief executive and the Legislative Council by universal suffrage. After its return to the motherland, Hong Kong will retain the status of a free port and an international financial, trade and shipping center while continuing to maintain and develop its economic and cultural relations with other countries, regions and relevant international organizations so that this international economic metropolis will forever be vigorous and dynamic.

The Hong Kong Special Administrative Region protects the right to own private property in accordance with law and may, on its own, formulate its economic, trade, monetary, financial, educational, scientific and technological, cultural and sports policies in accordance with law. It will have independent finances, practice an independent taxation system and be a separate customs territory.

All the economic and trade activities and investment interests of other countries and regions in Hong Kong will be protected by law. These policies and guidelines have been formulated by the Central People's Government after careful consideration of the need to safeguard both the immediate interests of the Hong Kong compatriots and the fundamental interests of the Chinese nation. Their adherence serves Hong Kong, serves the entire nation and serves the world as well. Therefore, there is no reason whatsoever to change them.

Here, I would like to reaffirm that "one country, two systems," "Hong Kong people administering Hong Kong" and "a high degree of autonomy" will remain unchanged for 50 years. This is a long-term basic principle of ours. Hong Kong's success today is, in the final analysis, the work of the Hong Kong compatriots. Their pioneering and enterprising spirit has filled people around the world with deep admiration.

Our Hong Kong compatriots will certainly carry forward this valuable spirit and bring about a better future for Hong Kong. After the founding of New China, the Chinese Government has all along given support for a socially stable and economically prosperous Hong Kong. Since the beginning of China's reform and opening-up, that support has become even more powerful and effective. Hong Kong, as an important bridge linking China and the rest of the world in economic, scientific, technological and cultural exchanges, has benefited from it immensely.

With the continuous advance of China's modernization drive, Hong Kong's economic link with the mainland will become even closer and its role as a bridge will be increasingly enhanced. This in turn will give a stronger impetus to Hong Kong's economic growth. Hong Kong's success today is also attributable to a number of other factors. Its advantageous geographical location, its free port policy of complete openness, its well-developed legal system and highly efficient team of civil service, and its effective economic management and civic administration have all facilitated Hong Kong's economic development.

These factors will continue to play a positive role after its return. Our Hong Kong compatriots are known for their glorious tradition of patriotism.

They have made important contributions in the struggle for national liberation and in the modernization drive of the motherland. Hong Kong compatriots will surely display greater love for the motherland and for Hong Kong, and take it as their utmost honor to maintain long-term prosperity and stability in Hong Kong and safeguard the fundamental interests of the country and the nation.

To many foreigners living here, Hong Kong has already become their home. It will remain their home in the future where they can live and work in peace and contentment. February Events.

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