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China on Wednesday morning held a high-level seminar to commemorate the 10th anniversary of the Basic Law of Hong Kong Special Administrative Region (HKSAR).

The seminar was attended by senior government officials since Chairman of the Standing Committee of China's National People's Congress Wu Bangguo and Vice-President Zeng Qinghong attended the seminar.

Delivering a speech at the seminar, Wu said that the last decade had shown the effectiveness of the "one country, two systems" philosophy and that the Basic Law was now a tried and tested law.

Wu emphasized that Hong Kong must continue to uphold state sovereignty, focus on a high degree of autonomy as a special administrative region and ensure prosperity and stability.

"The practice of a capitalist system and policies in the HKSAR is based on an undivided China and that a socialist system is applied to the main body of China," said Wu, adding that the central government would intervene in any affairs that would affect the autonomy of the HKSAR.

"To maintain the capitalist system in Hong Kong with a high degree of autonomy will lead to long-term prosperity and stability in Hong Kong," he said.

"What I wish to stress here is that the central government will always work for the long-term prosperity and stability of Hong Kong in all its dealings with the region," he said.

HKSAR Chief Executive Donald Tsang was also in attendance, testifying that Hong Kong had retained its international features, was ruled by law and possessed all the freedom enshrined in the Basic Law after its return to the motherland.

"With state care and assistance, we have succeeded in displaying our unique advantages and made significant achievements that have been widely recognized by the international community," Tsang said.

Enacted in accordance with the nation's Constitution, the Basic Law lays downs the guidelines of "one country, two systems" and of "Hong Kong people administering Hong Kong" with a high degree of autonomy, Tsang noted.

Tsang added that Hong Kong will better deal with global competition through strengthened cooperation with the mainland. In this spirit, Hong Kong should forge closer links with mainland provinces and municipalities to avoid harmful competition between the two.

The chief executive illustrated this spirit of cooperation by bringing up the creation of Hong Kong trade offices in Shanghai and Chengdu last year, saying these offices have facilitated Hong Kong's economic and trade cooperation with these inland areas.

To maintain its bulwark status as an international Asian financial center, Hong Kong will also need help from inland areas and asks them to embrace financial interaction and complementation in the financial sector, he said.

In the meantime, Hong Kong would maintain its role as an international metropolis, he said, adding that Hong Kong wishes to enhance international contacts, especially as relating to

(Xinhua News Agency June 6, 2006)