Mutual benefits: President Hu Jintao says the Central Government will implement policies to facilitate Hong Kong's economic development.

The Central Government will implement policies to facilitate Hong Kong's economic development, and improve cooperation mechanisms with Hong Kong, President Hu Jintao says.

Speaking at the third-term HKSAR Government inauguration ceremony, President Hu said that as long as the Hong Kong Government and people work in partnership, give full play their strengths, enhance economic cooperation with the Mainland, and adopt to accelerated economic globalisation, they can ensure Hong Kong's sustained and steady economic growth.

Hong Kong has remained a free port and an international financial, trade and shipping centre during the past decade, and has been consistently rated as the most open and free economy and one of the most dynamic regions with the best business environment in the world, President Hu said.

During the ceremony, Chief Executive Donald Tsang said the Government will promote a new mode of economic development: The financial sector will be expanded and investment in infrastructure will be increased to drive wage increases and create more job opportunities for grassroots workers.