Conservatism in Hong Kong the way to maintain the "status quo" of Hong Kong. They initially supported the British Conservative Prime Minister Margaret Thatcher's efforts in insisting the validity of the Treaty of Nanking of 1842. However, Deng Xiaoping, the Chinese paramount leader insisted in restoring sovereignty in Hong Kong in 1997, but guaranteed the "capitalist system and way of life shall remain unchanged for 50 years," which was later written in the Article 5 of the Hong Kong Basic Law. Besides its "Old Left" Beijing loyalists in the colony which were represented by the Hong Kong Federation of Trade Unions (HKFTU), the Communist
Liberalism in Hong Kong quo to a democratic and fairer society. This view was held by Tsang Shu-ki, a prominent thinker in the social activist circle at the time. In January 1983, the liberals formed the Meeting Point favoured the Chinese rule with the slogan of new Three Principles of People, "Nation, Democracy and People's Livelihood." It became one of the earliest groups in Hong Kong favoured Chinese sovereignty over Hong Kong but wanted a free, democratic and autonomous Hong Kong. The Sino-British Joint Declaration of 1984 guaranteed Hong Kong would retain a high degree of autonomy under Chinese sovereignty with the preservation of