The 1992 Consensus is a political term referring to the alleged outcome of a meeting in 1992 between the semi-official representatives of the Chinese Communist Party (CCP)-led People's Republic of China (PRC) in mainland China and the Kuomintang (KMT)-led Republic of China (ROC) on Taiwan. The consensus is often credited with establishing a diplomatic foundation for semi-official cross-strait exchanges beginning in the early 1990s and is a precondition set by the PRC for engaging in cross-strait dialogue.