TAIPEI (Reuters) - Taiwan President Ma Ying-jeou will step down as chairman of the ruling Kuomintang party (KMT) on Wednesday, the party said on Tuesday, after the China-friendly party suffered heavy defeats in local elections at the weekend.
"As the chairman, Ying-jeou is willing to take the biggest responsibility," a KMT statement said. "I'll step down tomorrow, but for the KMT, this will not be an ending. It will be a new beginning," it quoted Ma as saying..
(Reporting by Faith Hung; Editing by Jeremy Laurence)