BEIJING, Sept. 28 (Xinhua) -- Top political advisor Yu Zhengshengon Thursday addressed a reception marking the 68th anniversary of the founding of the People's Republic of China.

Under the leadership of the Communist Party of China (CPC), China has achieved leaps in economic development, increasing people's living standards, said Yu, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

The reception was attended by more than 2,800 representatives from Hong Kong, Macao, Taiwan and overseas Chinese communities.

Yu stressed that the "one country, two systems" is the best institutional arrangement for the long-term prosperity and stability of Hong Kong and Macao.

"We will continue to insist on the principles of 'one country, two systems', Hong Kong and Macao people administering their regions and a high degree of autonomy, handling their affairs in line with the Constitution and the Basic Laws of the two regions," Yu said.

The senior political advisor also emphasized that the peaceful development of relations across the Taiwan Strait meets the common aspirations and interests of people on both sides.

"We will stick to the one-China principle and the political foundation of the 1992 Consensus, and resolutely oppose 'Taiwan independence'," Yu said.

Yu promised overseas Chinese that the government will continue to serve for them and unite Chinese at home and abroad.

The reception was organized by the General Office of the CPPCC National Committee, the United Front Work Department of the CPC Central Committee, the Overseas Chinese Affairs Office of the State Council, the Hong Kong and Macao Affairs Office of the State Council and the Taiwan Affairs Office of the State Council.