The Macao Chamber of Commerce on Thursday hosted a cocktail party to mark the 5th anniversary of the founding of the Macao Special Administrative Region (SAR).

Ma Man Kei, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and chairman of the Macao Chamber of Commerce, said that Macao's successful practices of "one country, two systems" over the past five years have proved the vitality of the policy.

"Macao's official forecast for this year's economic growth rate was 20 percent, which is very encouraging," said Ma.

Enjoying the central government's trust as well as the love and support by Macao people, Chief Executive of the Macao SAR Edmund Ho Hau Wah was appointed to a second term by Chinese Premier Wen Jiabao in September, after gaining a 99 percent support rate in the SAR's first chief executive election in August, said Ma.

Ho's re-election is conducive to the continuity of implementation of the policy in the SAR, he said, adding that guaranteed by the "one country, two systems" policy, the Macao SAR is improving its comprehensive competitiveness.

Ma also suggested the SAR government continue its efforts in compensating for industries in bad conditions, accelerating legislation in line with the social and economic development and improve the government's work efficiency.

Chief Executive Edmund Ho Hau Wah, Bai Zhijian, director of the Liaison Office of the Central People's Government in the Macao SAR, and Wan Yongxiang, commissioner of the Foreign Ministry in the Macao SAR, attended the party along with some 500 Macao celebrities.

(Xinhua News Agency December 17, 2004)