TAIPEI, March 22: Taiwan’s main opposition Nationalist Party won the presidential election by a landslide on Saturday, heralding improved ties with giant neighbour China which claims the self-ruled island as its own.

But President-elect Ma Ying-jeou said he would only consider signing a peace deal with China — an offer Beijing has made with conditions — if it stopped aiming missiles at Taiwan.

“Before we can talk about peace, we need to remove the threat,” Ma told reporters after announcing his victory to thousands of cheering supporters in downtown Taipei.

He said he had no immediate plans to go to China.

Chinese President Hu Jintao offered broad peace talks with Taiwan earlier this month, but under the so-called “one China” policy.

That contends the island and the mainland are part of a single sovereign country, a concept Taiwan’s current government has rejected.

“The people of Taiwan hope for clean government, with no corruption. Taiwan people hope for a flourishing economy. The people of Taiwan hope for peace across the Strait, they don’t want war,” Ma told supporters who set off firecrackers in celebration.

The Harvard-educated former Taipei mayor won 58 per cent of the vote, while the ruling Democratic Progressive Party’s candidate Frank Hsieh got 42 per cent.

“I am deeply sorry. This is my personal defeat, not Taiwan’s defeat, so don’t be sad,” Hsieh said.

Ma’s win comes after his party giving it a clear mandate to push ahead with their policies to boost an economy that has lagged some Asian peers.

Ma, who will take office in May, favours closer economic ties and political dialogue with China. Voters had to choose a successor to President Chen Shui-bian, an anti-China firebrand who has repeatedly angered Beijing with pro-independence rhetoric.—Reuters