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
British Hong Kong the Convention of Chuenpi during the First Opium War. On 20 January, Elliot announced "the conclusion of preliminary arrangements", which included the cession of Hong Kong Island and its harbour to the British Crown. Elliot chose Hong Kong instead of Chusan because he believed a settlement further east would cause an "indefinite protraction of hostilities", whereas Hong Kong's harbour was a valuable base for the British trading community in Canton. British rule began with the occupation of the island on 26 January. Commodore Gordon Bremer, commander-in-chief of British forces in China, took formal possession of the island at Possession Point,