Seeing a way of rebranding a name that was associated with division, Mao declared the new government to be the People's Republic of China on October 1st, 1949. A few months later, from Taiwan, Chiang Kai-shek, who had been the chairman of the Republic of China and the leader of the KMT, declared themselves to be the legitimate government, and they proclaimed Taipei to be the capital of the Republic of China. In 1950, Chiang became the president of the Republic of China, a position that he held until 1975. The division between these two parties still exists today, with mainland China claiming the large island of Taiwan as a Chinese territory, even though the Republic of China is still based in Taiwan. Many nations consider there to be one sovereign state under the name of China since both states use "China" in their names; this is known as the One-China Policy.