China to help Hong Kong, Macao survive financial crisis

December 19th, 2008 - 10:13 pm ICT by IANS  

Beijing, Dec 19 (Xinhua) Chinese President Hu Jintao Friday said the central government in Beijing would continue to fully support Hong Kong and Macao in dealing with the challenges brought by the global financial crisis.Hu made the assurance while meeting Chief Executive of Hong Kong Donald Tsang and Edmund Ho Hau-wah, Chief Executive of the Macao, here Friday afternoon.

“The central government attaches great importance to the financial and economic stability of Hong Kong, and will continue to fully support the region in properly dealing with the challenges brought by the global financial crisis,” he said after meeting the leader of Hong Kong.

Hu also praised Donald for taking a series of effective measures to stimulate economic growth, increase employment, support local enterprises, and to stabilize and regain public confidence in Hong Kong, the financial hub of Asia.

He said the central government believed that Hong Kong will be able to turn the challenges into opportunities and maintain prosperity and stability and harmonious development.

In a separate meeting with Edmund Ho Hau-wah, Hu said Macao has achieved remarkable progress in the region’s development over the past nine years, and pledged supportive measures for Macao.

“The central government will continue to fully support the Macao to overcome difficulties and realize moderately diversified economic development,” he said.

Hong Kong and Macao, previously colonies separately ruled by the British and Portuguese, returned to China in 1997 and 1999 respectively.

The two regions enjoy a high degree of autonomy, maintaining a capitalist economy under the policy of “one country, two systems”.

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