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HONG KONG, July 15 -- Hong Kong Chief Executive C Y Leung said on Tuesday that today is a historic moment in the constitutional development of Hong Kong.

Leung made the remarks at a press conference after he submitted a report to the Standing Committee of the National People's Congress, China's top legislature, initiating the five-step process of Hong Kong's constitutional development.

"We will be able to take a big stride forward in the democratic development of Hong Kong if we are willing to forge consensus as much as we can and leave behind our differences in a rational and pragmatic manner on the remaining work," he said.

"In about two years, over 5 million eligible voters in Hong Kong could directly elect the Chief Executive through 'one person, one vote' for the first time in our history," Leung said.

The report submitted by Leung focuses on whether there is a need to amend the methods for selecting Hong Kong's Chief Executive in 2017 and for forming the Legislative Council in 2016.

He said if the country's top legislature makes a determination in August, another round of public consultation will be launched around the end of this year to collect views on specific proposals on implementing universal suffrage for the Chief Executive election in 2017.

Leung stressed that the general public should have to uphold the rule of law and act according to the law as Hong Kong could implement universal suffrage only if the Hong Kong people comply with the Basic Law and the relevant Interpretation and Decisions of the National People's Congress Standing Committee.