page_title: Kuomintang
section_title: Party assets
hierarchical_section_title: Kuomintang / History / Current issues and challenges / Party assets
caption_attribution_description: 中文（繁體）‎: 中國國民黨臺北市委員會士林區黨部與臺北市士林區民眾服務社，位於臺北市士林區文林路714巷2號1樓。English: Shilin Division and Service Center, Kuomintang Taipei City Committee.
context_page_description: The Kuomintang, often referred to in English as the Nationalist Party or Chinese Nationalist Party, is a major political party in Taiwan, based in Taipei. Formed in 1919, the KMT was the sole ruling party of the Republic of China from 1928 to 2000 and is currently an opposition political party in the Legislative Yuan.
  The predecessor of the Kuomintang, the Revolutionary Alliance, was one of the major advocates of the overthrow of the Qing dynasty, the subsequent revolt in 1911, and the proclamation of the Republic of China. The KMT was founded by Song Jiaoren and Sun Yat-sen shortly after the Xinhai Revolution of 1911. Sun was the provisional President, but he ceded the presidency to Yuan Shikai. Yuan's death in 1916 led to the nation's disintegration in the Warlord Era. Sun deputed Chiang Kai-shek to form the National Revolutionary Army and launch the Northern Expedition that unified much of mainland China and established the capital at Nanjing. During the following Nanjing decade China achieved substantial economic growth and social progress, but the Second Sino-Japanese War was disastrous.
context_section_description: As the ruling party on Taiwan, the KMT amassed a vast business empire of banks, investment companies, petrochemical firms, and television and radio stations, thought to have made it the world's richest political party, with assets once estimated to be around US$2–10 billion. Although this war chest appeared to help the KMT until the mid-1990s, it later led to accusations of corruption (often referred to as "black gold").
  After 2000, the KMT's financial holdings appeared to be more of a liability than a benefit, and the KMT started to divest itself of its assets. However, the transactions were not disclosed and the whereabouts of the money earned from selling assets (if it has gone anywhere) is unknown. There were accusations in the 2004 presidential election that the KMT retained assets that were illegally acquired. During the 2000–2008 DPP presidency, a law was proposed by the DPP in the Legislative Yuan to recover illegally acquired party assets and return them to the government. However, due to the DPP's lack of control of the legislative chamber at the time, it never materialised.
  The KMT also acknowledged that part of its assets were acquired through extra-legal means and thus promised to "retro-endow" them to the government. However, the quantity of the assets which should be classified as illegal are still under heated debate. DPP, in its capacity as ruling party from 2000 to 2008, claimed that there is much more that the KMT has yet to acknowledge. Also, the KMT actively sold assets under its title to quench its recent financial difficulties, which the DPP argues is illegal. Former KMT chairman Ma Ying-Jeou's position is that the KMT will sell some of its properties at below market rates rather than return them to the government and that the details of these transactions will not be publicly disclosed.
  In 2006, the KMT sold its headquarters at 11 Zhongshan South Road in Taipei to Evergreen Group for NT$2.3 billion (US$96 million). The KMT moved into a smaller building on Bade Road in the eastern part of the city.
  In July 2014, the KMT reported total assets of NT$26.8 billion (US$892.4 million) and interest earnings of NT$981.52 million for the year of 2013, making it one of the richest political parties in the world.
  In August 2016, the Ill-gotten Party Assets Settlement Committee is set up by the ruling DPP government to investigate KMT party assets acquired during the martial law period and recover those that were determined to be illegally acquired.
caption: Kuomintang public service centre in Shilin, Taipei
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