Tsai Ing-wen, the chairperson of Democratic Progressive Party (DPP), has become the first female President of Taiwan.

The 59-year-old Taiwanese leader, who led her party to a landslide victory in presidential elections in January, was sworn in as new president in the presence of nearly 700 foreign dignitaries at the Presidential Office on Friday.

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Outgoing President Ma Ying-jeou of Kuomintang (KMT) was present at the swearing-in ceremony. Senior DPP leader Chen Chien-jen was sworn in as new vice-president of Taiwan.

Tsai said in her inaugural speech that one of the areas of focus for the new adminstration is addressing regional peace, stability and development, as well as the proper management of Cross-Strait relations.

"Taiwan has always played an indispensable role in the region's development. But in recent years, regional dynamics have been changing rapidly," Tsai said. "If Taiwan does not effectively use its strengths and leverage to proactively participate in regional affairs, it will not only become insignificant, it may even become marginalized and lose the ability to determine its own future."

"We are also willing to engage in candid exchanges and pursue possibilities for cooperation and collaboration with the other side of the Strait on our common participation in regional development," she said.

Political observers have highlighted the fact that Tsai avoided mention of the 'One China' policy in her first speech as president. The DPP is a pro-independence party and traditionally opposes 'One China' policy.

This is the second time in the history of Taiwan that the DPP has come to power. China, which considers Taiwan a part of its territory, often labels it a 'breakaway' province.

TagsTaiwan, china, One China policy, Tsai Ing-wen, Koumintang