Chinese President Hu Jintao (R) meets with Chief Executive Donald Tsang of Hong Kong Special Administrative Region (HKSAR) in Beijing, Nov. 23, 2007.(Xinhua Photo)

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BEIJING, Nov. 23 (Xinhua) -- President Hu Jintao on Friday met with Hong Kong Special Administrative Region (HKSAR) Chief Executive Donald Tsang and pledged "all-out support" for Tsang and his government.

After hearing a report by Tsang on his work, Hu spoke highly of the achievements of the third-term HKSAR government, which was installed on July 1, 2007.

"The next five years will be an important phase in Hong Kong's development and the HKSAR government should always prioritize economic development and improvement in people's livelihood," Hu said.

The HKSAR government should also take full advantage of globalization and the opportunities offered by mainland China's development to strengthen the city's role as a global hub of finance, trade and shipping and continue to improve the lives of the citizens, Hu added.

The central government will continue to unswervingly uphold the principles of "one country, two systems" and the Basic Law of the HKSAR, and "give all-out support" to the HKSAR Chief Executive and the HKSAR government in governance according to law, Hu said.

Donald Tsang Yam-kuen was formally reappointed Hong Kong chief executive in April, and his new five-year term started on July 1, 2007.

The Hong Kong SAR Government was officially founded on July 1, 1997 when Hong Kong returned to the motherland.