The President, Mr Hu Jintao, presided over the inauguration ceremony of the Third-term Government of the Macao Special Administrative Region (MSAR) this morning at the Macao East Asian Games Dome. Addressing the gathering, the President first expressed his confidence that, building on past achievements, Macao would go from strength to strength under the leadership of the newly sworn-in government. He also paid tribute to Mr Deng Xiaoping, who proposed the concept of ‘One country, two systems’, as well as Mr Jiang Zemin, who contributed to the concept’s successful implementation. President Hu pointed out that Macao had faced different challenges over the past decade but it had emerged from each one of them stronger and better thanks to the steadfast support of the central government and the concerted efforts of Macao people. Reflecting on Macao’s extraordinary journey in the last 10 years, he summed up five lessons for Macao. “First and foremost, it is important to have a correct interpretation of the principle of ‘One country, two systems’ and enforce it accordingly. The key here is to build a solid political foundation for Macao’s long term stability and prosperity by promoting unity under the banner of loving the country and Macao. “Secondly, it is important to strictly abide by the Basic Law of Macao, which reigns supreme in the legal system of the MSAR. “Thirdly, it is important to focus on spurring development. Through the wisdom and efforts of all Macao people, we can devote more attention to the all-round, coordinated and sustainable development of Macao, enhancing its resilience to all kinds of financial risks. “Fourthly, it is important to safeguard social harmony and stability by all means possible…Last but not least, it is necessary to nurture different types of talent to raise the competitiveness of Macao,” said the President. For his part, Chief Executive Chui Sai On stressed that he would adhere to the principle of ‘putting people first’ in his governance – bearing in mind both continuity and innovation. In his inaugural speech, Mr Chui also noted that he would proactively facilitate the optimal diversification of the local economy in the coming five years. In addition, the new administration will be committed to improving the quality of life in Macao by increasing investment in healthcare, education, public housing and urban planning. “We will also enhance our governance by promoting public consultation and fostering integrity in government while building both an official accountability system and a fiscal reserve system,” he said. The Chief Executive underlined that his ultimate goal was to enable every resident of Macao to share in the fruits of the region’s economic growth. Rounding up his speech, he thanked the central government on behalf of the MSAR for its generosity in presenting a pair of pandas to the region. The ceremony began at 9:30 am at the Macao East Asian Games Dome and was attended by about 1400 guests.