Fully and faithfully implementing the policy of "One Country, Two Systems" will create boundless space for the development of Hong Kong and Macao special administrative regions, Chinese President Xi Jinping said on Friday.

Xi made the remarks at the meeting celebrating the 25th anniversary of Hong Kong's return to the motherland and the inaugural ceremony of the sixth-term government of the Hong Kong Special Administrative Region.

Safeguarding China's sovereignty, security and development interests is the supreme principle of the policy, which guarantees that Hong Kong and Macao maintain the previous capitalist system for a long time to come and enjoy a high degree of autonomy, Xi said.

The principle of "patriots governing Hong Kong" needs to be implemented, he said, adding that it is a common practice across the world to keep political power in the hands of patriots.

To ensure good governance means safeguarding Hong Kong's prosperity and stability and the vital interests of its more than seven million residents, the president said.

Besides, Hong Kong's unique position and advantages also need to be maintained.

"The central authorities fully support Hong Kong in maintaining its unique position and advantages, consolidating its position as an international financial, shipping and trade center, maintaining a free, open and regulated business environment, maintaining the common law system, and expanding unimpeded and convenient international connections," said Xi.

(Cover: A flag-raising ceremony is held in Hong Kong, China, July 1, 2022. /CFP)