ISLAMABAD, January 16. /TASS/. Taiwan's newly-elected chief executive, Lai Ching-te, will continue the policy started by the island's current leader Tsai Ing-wen of reducing economic dependence on mainland China and diversifying trading ties, a research associate at the Islamabad Institute of Strategic Studies, Muneeb Salman, has told TASS.

"Lai Ching-te will continue the New Southbound Policy started by his predecessor in a bid to try to reduce the island's economic dependence on mainland China," Salman said. As he noted, Taiwan's chief executive-elect is a supporter of the island's independence from the PRC. However, given the lack of a majority in the Legislative Yuan (unicameral legislature) for the Democratic Progressive Party he leads, Lai Ching-te "will be unable to take any bold steps in foreign policy that could change the status quo."

On January 13, Taiwan held elections of the head of the local government and members of the Legislative Yuan (unicameral parliament). The incumbent deputy head of the administration, Lai Ching-te, of the Democratic Progressive Party, won the election (with 40.05% of votes). The opposition recognized its defeat.

Taiwan has been governed by its own administration since 1949, when remnants of the Kuomintang forces led by Chiang Kai-shek (1887-1975) fled to the island after being defeated in the Chinese Civil War. Since then, Taipei has retained the flag and some other attributes of the former Republic of China that existed on the mainland before the Communists came to power. According to Beijing's official position, supported by most countries, including Russia, it is one of China's provinces.