The ruling Nationalist Party today picked as its candidate Hung Hsiu-chu, a former teacher and the current deputy legislative speaker.
Hung, who supports friendly relations with China, will run against Tsai Ing-wen, the opposition Democratic Progressive Party chairwoman and an advocate of more cautious relations with Beijing. Tsai leads in opinion polls ahead of January's election.
Ties with Beijing, long icy but cordial since 2008, have shaped up as an early campaign issue.
Joanna Lei, chief executive officer of the Chunghua 21st Century Think Tank in Taiwan, said that some younger women struggle to advance in Taiwan. However, she said society accepts the leadership of women over age 50 because they historically ran clans in China, where Taiwan's culture originates.
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Women manage 10 government departments and some of Taiwan's top companies. One third of Taiwanese legislators are female, compared to 13 percent in Japan and 16 percent in South Korea, said Sean King, senior vice president with Park Strategies, a New York-based consultancy firm.
China claims sovereignty over self-ruled Taiwan, where Chiang Kai-shek's Nationalists based their government in the 1940s after losing the Chinese civil war to the Communists. China insists that the two sides should eventually reunite, though opinion polls on the island say most Taiwanese prefer autonomy.
Elected in 2008, President Ma Ying-jeou set aside the political dispute to start dialogue with Beijing and sign economic agreements. He agreed with Beijing to negotiate on the basis that both sides belong to one China, though with different interpretations.
Tsai, a 58-year-old lawyer by training and once Taiwan's top policymaker on mainland China affairs, lost the 2012 presidential race to Ma by six percentage points. Hung, 67, has been dubbed a "little chili pepper" for her biting, humorous style of grilling government officials in parliament.