The 1992 Consensus is a political term referring to the alleged outcome of a meeting in 1992 between the semiofficial representatives of the People's Republic of China (PRC) of mainland China and the Republic of China (ROC) of Taiwan. They are often credited as creating a diplomatic basis for semi-official cross-strait exchanges which began in the early 1990s and is a precondition set by the PRC for engaging in cross-strait dialogue. Whether the meetings truly resulted in a consensus is under dispute in the ROC. The Kuomintang (KMT) understanding of the consensus is "one China, different interpretations" (一中各表, 一個中國各自表述), i.e. that the ROC and PRC agree that there is one China, but disagree about what "China" means (i.e. ROC vs. PRC). The PRC's position is that there is one China (including Taiwan), of which PRC is the sole legitimate representative. This discrepancy has been criticized by Taiwan's Democratic Progressive Party that is now in power, and by others. Critics have also pointed out that the term was not created contemporaneously within the timeframe of the meeting: the term was coined in April 2000 by former National Security Council secretary-general Su Chi, eight years after the 1992 meetings. The President of ROC in 1992, Lee Teng-hui, denied the existence of the 1992 Consensus in 2006. The 1992 Consensus was rejected by the current leader of Taiwan, Tsai Ing-wen, who associated it with one country, two systems in a 2019 speech. History 1992 ARATS-SEF meeting and Wang-Koo summits In November 1992, a meeting occurred between the Association for Relations Across the Taiwan Strait (ARATS) of the People's Republic of China (PRC) and the Straits Exchange Foundation (SEF) of the Republic of China (ROC) in British Hong Kong. Three months before the meeting on 1 August 1992, the Mainland Affairs Council of the ROC published the following statement regarding the meaning of "One China": (later adopted by the now defunct National Unification Council): "Both sides of the Taiwan Strait agree that there is only one China. However, the two sides of the Strait have different opinions as to the meaning of 'one China.' To Peking, 'one China' means the 'People’s Republic of China (PRC),' with Taiwan to become a 'Special Administration Region' after unification. Taipei, on the other hand, considers 'one China' to mean the Republic of China (ROC), founded in 1911 and with de jure sovereignty over all of China. The ROC,