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 Chinese, the Second Convention of Peking was signed on 9 June. Since the foreign powers had agreed by the late 19th century that it was no longer permissible to acquire outright sovereignty over any parcel of Chinese territory, and in keeping with the other territorial cessions China made to Russia, Germany and France that same year, the extension of Hong Kong took the form of a 99-year lease. The lease consisted of the rest of Kowloon south of the Shenzhen River and 230 islands, which became known as the New Territories. The British formally took possession on 16 April