Stability, prosperity: Premier Wen Jiabao calls on Hong Kong people to unite and work together for the city's prosperity and stability. (Pic: Xinhua)

Premier Wen Jiabao has assured that the next chief executive will be elected according to the Basic Law.

Speaking after the close of the 10th National People's Congress third annual session in Beijing today, Premier Wen said the Central Government is steadfast in practising the One Country, Two Systems formula having Hong Kong people ruling Hong Kong with a high degree of autonomy.

He said Hong Kong's capitalism and laws have remained unchanged since reunification, along with the people's lifestyle.

Premier Wen said former Chief Executive Tung Chee Hwa's resignation is sincere, and hailed his historic contributions to maintaining Hong Kong's stability and prosperity while pioneering the implementation of One Country, Two Systems and the Basic Law.

He called on Hong Kong people to unite and work for the city's prosperity and stability.