India, May 20 -- Taiwan on Tuesday stated that it wants peace with China and is open for dialogue. These remarks came from President Lai Ching-te as he marked one year in office.

China, on the other hand, responded stating it is open to dialogue and peaceful ties. However, Beijing's condition of 'One China' remains a key factor for these negotiations.

Marking his first year in office after a controversial election, Lai Ching-te, also known as William Lai, stated that Taipei is open to peace.

"I, too, am committed to peace. Because peace is priceless and war has no winners. But when it comes to seeking peace, we cannot have dreams or illusions," he told reporters during an address at the presidential office.

"Taiwan is happy to have ex...