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HK people fully capable of managing HK well: President Hu
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10:55, July 01, 2007

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Hong Kong's success over the past10 years shows that Hong Kong people are fully capable of managingHong Kong well and sustaining its growth, said Chinese President Hu Jintao on Sunday.

At the gathering marking the 10th anniversary of Hong Kong's return to China and the inauguration of the third-term government of the Hong Kong Special Administrative Region (HKSAR), Hu said that during the past decade, Hong Kong has maintained its capitalist system and way of life and fully exercised executive, legislative and independent judicial power, including the power offinal adjudication as mandated by the Basic Law.

The people of Hong Kong have enjoyed extensive democratic rights and freedom. The principles of "Hong Kong people administering Hong Kong" and a high degree of autonomy have been turned into a living reality, Hu said.

During the past decade, the two chief executives, Tung Chee Hwaand Donald Tsang, with the full support of the central government and the mainland, led the HKSAR government and people in meeting such grave challenges as the Asian financial crisis and severe acute respiratory syndrome (SARS), Hu said.

"They upheld the overall stability of Hong Kong, revitalized Hong Kong's economy, and Hong Kong has made great progress in all fields of endeavors," said Hu.

Hong Kong's exchanges and cooperation and particularly its business ties with the mainland have grown increasingly closer. With stronger support from the mainland, Hong Kong serves as an important window and bridge for China's economic, scientific, technological and cultural exchanges with the rest of the world, Hu said.

"Through their dedicated efforts, the people in Hong Kong have both promoted the development of Hong Kong and contributed their share to China's modernization drive," Hu said.

Hong Kong has steadily expanded its relations with other parts of the world. It has remained a free port and an international financial, trade and shipping center, said the president.

Hong Kong has been consistently rated as the most open and freeeconomy and one of the most dynamic regions with the best businessenvironment in the world. "Hong Kong, an international metropolis,is thriving as never before," Hu added.

Source: Xinhua

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