Skip to content
Author
PUBLISHED: | UPDATED:

In a proposal that could foreshadow new rules for Taiwan’s politics, the faltering presidential candidate of the long-ruling Nationalist Party has proposed that the party’s vast business holdings be placed in a trust and that it end its direct role in managing hundreds of companies in which it owns shares.

Such changes could reduce the widely resented advantages enjoyed by the party as it pulls in hundreds of millions of dollars in profits annually and, according to critics, wields its shares in everything from banks to oil companies to secure the allegiance of key groups and individuals.

Vice President Lien Chan made the surprise proposal Sunday as he inaugurated his Taipei campaign headquarters for presidential elections scheduled for March.

Lien has fared poorly in what is shaping up as a close three-way race for the presidency, and his proposal was widely interpreted as a gesture to win back disillusioned voters.