however, currently has jurisdiction only over Taiwan, Penghu, Kinmen, and Matsu. Taiwan is part of China, and the Chinese mainland is part of China as well." Following the meeting, the SEF issued the following statement: "On November 3 [1992], a responsible person of the Communist Chinese ARATS said that it is willing to 'respect and accept' SEF’s proposal that each side 'verbally states' its respective principles on 'one China.'" The ARATS issued the following statement: "At this working-level consultation in Hong Kong, SEF representatives suggested that each side use respective verbal announcements to state the one China principle. On November 3, SEF sent a letter, formally notifying that "each side will make respective statements through verbal announcements." ARATS fully respects and accepts SEF's suggestion." The conclusion they reached was intended as a means of side-stepping the conflict over the political status of Taiwan. At the time of the meeting, Hong Kong was under British rule and therefore considered neutral territory by both sides. As a result of the 1992 meeting, ARATS Chairman Wang Daohan and SEF Chairman Koo Chen-fu met in Singapore on April 27, 1993, in what became known as the "Wang-Koo summit". They concluded agreements on document authentication, postal transfers, and a schedule for future ARATS-SEF meetings. Talks were delayed as tensions rose in the Third Taiwan Strait Crisis, but in October 1998 a second round of Wang-Koo summit were held in Shanghai. Wang and Koo agreed to meet again in Taiwan in the autumn of 1999, but the meeting was called off by the PRC side when then President Lee Teng-hui proposed his 'Two-states Theory' whereby each side would treat the other as separate state, which was not considered acceptable to the PRC. Chen Shui-bian era The election of the DPP to the ROC government in 2000 prompted former SEF official Su Chi to coin the term "1992 Consensus" as an ambiguous replacement for the previous terms in order to capture the broadest consensus between the different parties over the outcome of the 1992 meeting. President Chen Shui-bian initially expressed some willingness to accept the 1992 Consensus, a precondition set by the PRC for dialogue, but backed down after backlash within his own party. In a speech on 10 October 2004, then-president Chen Shui-bian expressed his willingness to initiate dialogue with PRC leaders on "the basis of the 1992 meeting in Hong Kong." This formulation did not