Premier Wen Jiabao raises a toast to Hong Kong

"Since its return, Hong Kong has traversed an extraordinary path and withstood all kinds of tests," said Premier Wen. "Nevertheless, we have all the reasons to believe that Hong Kong will have a better tomorrow. It has competitive advantages, which will continue to play a role for a long time to come.

Mr Wen said Hong Kong was always ready to respond to new changes, reform the old and introduce the new with great resourcefulness and flexibility. "Innovation is the lifeblood of a society in progress," he said.

"As a free port and cosmopolis, Hong Kong is in a good position to draw on others' strong points and absorb the best of the East and that of the West, which will provide a source of vigour and vitality for Hong Kong in this era of transformation."

Premier Wen reiterated that the new Central Government would "unswervingly implement the policy of 'one country, two systems', act in strict accordance with the Basic Law, fully support the Chief Executive and Government of the Hong Kong SAR in their administration according to law, safeguard all the rights and freedoms the local residents enjoy under the law, and unite with people from all circles in Hong Kong in a joint effort to maintain and promote prosperity, stability and development of Hong Kong."

"The Basic Law of the Hong Kong SAR, which ensures long-term coexistence and common development of two systems within one country. Herein lies the political basis and institutional guarantee for Hong Kong's prosperity, stability and development," he said.

Premier Wen said that the Closer Economic Partnership Agreement (CEPA) is a significant step taken by the central government to support Hong Kong's development, and is a vivid example of the implementation of the "one country, two systems" principle.
 
Chief Executive Tung Chee Hwa also reaffirmed the close relationship and interdependence between Hong Kong and the Chinese mainland. "CEPA offers us a solid platform to embark in this direction. We will foster closer economic ties with the mainland, in particular the Pearl River Delta region, and strengthen our existing excellent global business network," he said.

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