Edmund Ho Hau Wah, chief executive of the Macao Special Administrative Region, held a cocktail party on Friday to celebrate the 55th founding anniversary of the People's Republic of China.

In his speech, Ho said China has overcome numerous hardships and difficulties in the past 55 years to lay a solid foundation for comprehensive national strength.

The chief executive says since Macao's return to China, a new chapter has opened in the history of Macao, with Macao people exercising their rights to govern Macao with a high degree of autonomy guaranteed by the "one country, two systems" principle.

He says during the past five years, Macao people have demonstrated their wisdom and accumulated experiences in creating a new economic and social situation.

(CRI October 2, 2004)