HONG KONG -- The next five years will be crucial for Hong Kong to break new ground and launch a new take-off, President Xi Jinping said here on Friday.

Xi made the remarks at the meeting celebrating the 25th anniversary of Hong Kong's return to the motherland and the inaugural ceremony of the sixth-term government of the Hong Kong Special Administrative Region.

Hong Kong is in a new stage of transitioning from chaos to order and to greater prosperity, Xi said.

Hong Kong faces both opportunities and challenges, but there are more opportunities than challenges, Xi said.