Fellow compatriots,

Ladies and gentlemen,

Today is a day of nationwide celebration for the people of all nationalities in China, including our compatriots in Macao.The Chinese and Portuguese Governments have just now held the ceremony of the transfer of government of Macao.The Chinese Government has solemnly declared its resumption of the exercise of the sovereignty over Macaoand the official establishment of the Macao Special Administrative Region (MSAR) of the People's Republic of China.This signifies that henceforth our compatriots in Macaohave become the masters of this land and that Macaohas entered upon a brand new era in its development.This great event of the Chinese nation will shine forever in the annals of history.

At this solemn historical moment, I would like to extend, on behalf of the Central People's Government and the people of all nationalities in China, warm congratulations on the establishment of the Government of the Macao Special Administrative Region, cordial greetings to our Macao compatriots who are now back in the big family of the motherland, and our sincere gratitude to all our compatriots at home and overseas who have contributed to the return of Macao.I would also like to express, on behalf of the Chinese Government, our thanks to all the foreign friends who have cared for and supported the return of Macao. I wish to extend our warm welcome to all honoured guests and friends from various countries who are present in this ceremony.

At this solemn historic moment, we cherish with deep affection the memory of Mr. Deng Xiaoping.With his great political vision and extraordinary wisdom, he initiated the principle of "one country, two systems", pointing out a right road for the settlement of the questions of Hong Kong, Macaoand Taiwan.The successful return of Macaois yet another historic monument built by the Chinese people on the road to national reunification following the return of Hong Kong.

Macaohas been Chinese territory since ancient times.The Chinese people have carried out dauntless struggles for the return of Macao, this sacred land of the motherland.Though Macaohas been separated from the motherland for a long time, the bond of flesh and blood and the overall national interests have always linked our compatriots in Macaoclosely with the people of the rest of the motherland.The thriving socialist motherland is the fundamental force behind the epoch-making change in the status of Macao.The return of Macaois also a great victory in the cause of world peace and justice.It proves once again that the historical trend of the progress of mankind is not to be stopped by any force on earth.

The Chinese and Portuguese Governments have settled the question of Macaothrough negotiations.This political decision is a wise move that conforms to the needs of the times.Here, I would like to express thanks to all the people both inside and outside the government in Portugalfor their efforts made for settlement of the question of Macao.The successful settlement of the question of Macaohas provided a new historical starting point for the development of the friendship between the Chinese and Portuguese peoples in the 21stcentury.

After the resumption of the exercise of the sovereignty over Macaoby the Chinese Government, Macaowill continue to practise the capitalist system, and the existing social and economic systems and lifestyle will remain unchanged, the laws will remain basically unchanged and the right private ownership will be protected by law.As a special administrative region of the People's Republic of China, Macaowill enjoy high degree of autonomy as provided for in the Basic Law of Macao, such as the executive power, the legislative power and independent judicial power including that of final adjudication, except in foreign and defence affairs which are the responsibilities of the Central People's Government.The interests of the inhabitants of Portuguese descent in Macaoare protected by law, and their customs and cultural traditions will be respected.To quite a new foreigners who live in Macao, the Macao Special Administrative Region will continue to be their home where they can live and work in peace and contentment.In Macaoof tomorrow, all residents, irrespective race or colour, have opportunities for competition as equals and enjoy rights and freedoms protected by law.

After the resumption of the exercise of the sovereignty over Macaoby the Chinese Government, the Macao Special Administrative Region will remain a free port and a separate tariff zone and may on its own maintain and develop economic relations with states and regions and relevant international organizations in the name of "Macao, China".The Macao Special Administrative Region will continue to have independent finance and practise an independent taxation system.The Central Government will not levy taxes on Macao.The Macao Special Administrative Region will on its own formulate policies, in accordance with the law, in the fields of economy, trade, finance and currency, education, medical and health services, science and technology, culture and religion, and may formulate its own policy on the tourism and recreation in the light of the local overall interests.The economic and trade activities and the investment interests of various countries and regions of the world in Macaowill be protected in accordance with the law.

The policies and principles of the Central Government regarding Macao and all the provisions in the Basic Law of the Macao Special Administrative Region, which are in full conformity with the fundamental interests of the country, including Macao, and with the interests of the investors from different countries, are the fundamental guarantee for a long-term stability and development of Macao.The Basic Law of the Macao Special Administrative Region is a law of constitutional nature for Macaoand is also a law for the whole country, which should be observed not only by Macaobut also by the whole nation as well.No department of the Central Government and no local authority across the country should be allowed to interfere in the affairs which the Macao Special Administrative Region administers on its own as provided for by the Basic Law.

I would like to extend heartfelt congratulations to Mr. Ho Hau Wah who has today sworn in as the Chief Executive of the Macao Special Administrative Region.The Central Government has full confidence in and gives all-out support to the Chief Executive and the Government of the Macao Special Administrative Region under his leadership.

Our Macaocompatriots have played an important role both in the struggles waged by the Chinese people for national liberation and in China's modernization drive.They have been actively involved in affairs in the transitional period and made valuable contributions to the smooth return of Macaoto the motherland.We firmly believe that they will keep on carrying forward the glorious tradition of loving the country and loving Macao and make even greater contributions to maintaining long-term stability and development of Macao and safeguarding the fundamental interests of the country and the nation.

The great motherland will forever be a strong force behind Macao.Since the founding of New China, the people on the mainland have always cared for and supported the stability and development of Macao.The ties between Macaoand the mainland have been growing ever closer.After its return, Macaowill continue to strengthen its role as an important bridge linking Chinaand other countries and regions and as a window open to the outside world.A stable social environment is a primary condition for economic growth and a happy life for the people.The Central Government will resolutely support all the necessary measures the MSAR Government adopts for the maintenance of social stability in Macao.I am confident that with the support of the Central Government and the 1.2 billion people in China, the people in Macaounder the leadership of the MSAR Government will work harder in a pioneering spirit and go on making progress so as to build a better future for Macao.

The first rays of the 21stcentury are on the horizon.The Chinese Government and people will continue with their efforts to accomplish the great cause of the reunification of the motherland in line with the policies of "peaceful reunification" and "one country, two systems".The successful implementation of "one country, two systems" in Hong Kong and Macaowill give a positive push to the early settlement of the Taiwanquestion.The Chinese people of all nationalities and all patriots who support national reunification and care for China's reconstruction will work in concerted efforts and contribute to turning China into a strong, prosperous, democratic and culturally advanced modern country and bringing about the great rejuvenation of the Chinese nation.The world of tomorrow should be one of lasting peace and common progress and prosperity of all countries.The Chinese people are ready to work unremittingly with the people of other countries for a beautiful future of the world.

Thank you.