There is no reason to change the "one country, two systems" policy for Hong Kong and it must be adhered to over the long run, said Chinese President Xi Jinping on Friday (July 1), at the 25th anniversary of the city's return to China.

In a speech at the Hong Kong Convention and Exhibition Centre, Mr Xi said the policy's underlying goal is to uphold China's national sovereignty, security, and development interests, and maintain long-term prosperity and stability in Hong Kong and Macau.

Earlier in the day, the president swore in Hong Kong's former security chief John Lee as the city's new chief executive, as well as the principal officials of the sixth-term government.

In The Straits Times’ The Big Story, Assistant video editor Olivia Quay spoke with Associate Professor Alfred Wu, who is from NUS' Lee Kuan Yew School of Public Policy about the developments.