"I want to thank the people of Taiwan for writing a new chapter of our democracy. We have shown the world how we value democracy," Lai said in his address to the voters, Sputnik reprted.
He also thanked his opponents, adding that he had spoken to them on the phone and accepted congratulations.
Further, Lai highlighted he was committed to protecting the island from alleged threats and intimidation from mainland China.
He also announced his intention to maintain the status quo in the Taiwan Strait and use dialogue instead of confrontation "to confidently continue exchanges and cooperation with China."
Lai is leading with 40.1% of the votes, with ballots from 17,673 polling stations out of 17,795 having been counted.
Meanwhile, Hou Yu-ih, the candidate of Taiwan's main opposition Kuomintang party, conceded defeat in the island's general election and asked voters for forgiveness.
MNA
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