Business leaders and observers urged the new administration in Taiwan to focus on the economy to benefit Taiwan residents instead of playing up the political agenda.

Concerns over a possible regression in cross-Straits relations have surfaced as Taiwan's new leader Tsai Ing-wen from the Democratic Progressive Party assumed office on Friday.

Chairman of the Taiwan Business Association (HK) Ltd Darby Liu Ta-pei, in an exclusive interview with China Daily, said cross-Straits ties have been largely stable during the past eight years under the island's former leader from the Kuomintang party, Ma Ying-jeou, and his administration.

He believed that only by adhering to the "1992 Consensus", under which Taiwan and the Chinese mainland are part of one China, can relations remain harmonious and beneficial to the people of Taiwan, those on the mainland, and overseas.

He urged the new administration to focus on reviving the economy, instead of playing up political agendas as the former DPP leader Chen Shui-bian did during his two terms in office, Liu added.

Ringo Ma Chen-lung, associate dean at the School of Communication at Hong Kong Baptist University, stressed the importance of harmonious cross-Straits relations to facilitate the recovery of the island's sagging economy.

Tsai's priority must be to address the economic problems amid lukewarm global growth, Ringo Ma cautioned.