China hopes Iraq will realize "Iraqi people governing Iraq" at the earliest possible date.

A Chinese Foreign Ministry spokeswoman says the transfer of power by the coalition authorities to the Iraqi interim government is a significant event in Iraq's political transition.

The spokeswoman notes that China hopes the interim government can soon stabilize the security situation with the help of the international community and realize the goal of genuine Iraqi self-rule.

The coalition authorities have formally transferred power to the Iraqi interim government, two days ahead of the scheduled June 30th.

Outgoing US civil administrator in Iraq Paul Bremer, along with Iraqi Prime Minister Iyad Allawi and other government officials attended the low-key ceremony.