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
Executive Council of Hong Kong below Government House (former residence of the British Governor of Hong Kong). Prior to the handover, the Provisional Executive Council of Hong Kong, headed by Tung Chee Hwa, met in Shenzhen or Tung's office on the 11th floor of the Asia Pacific Finance Tower in Hong Kong. Members of the outgoing British Hong Kong ExCo were not permitted to attend this body. Both Executive Council sittings were on Tuesdays. Executive Council of Hong Kong The Executive Council of Hong Kong (ExCo; ; Chinese name before the transfer of sovereignty: 行政局) is a formal body of advisers to the Chief Executive