Taipei, May 20 (IANS/DPA): Taiwan's new President, Lai Ching-te, has called on Beijing to cease its political and military 'intimidation' against his democratic island country.

"Peace is the only option," Lai told the crowd attending his inauguration ceremony in Taiwan.

Lai also called on China to share with Taiwan the global responsibility of maintaining peace and stability in the Taiwan Strait, as well as the greater region, and "ensure the world is free from the fear of war."

"The future of cross-strait relations will have a decisive impact on the world," Lai said.

Lai urged China to face the reality of the existence of Taiwan and "in good faith, choose dialogue over confrontation, exchange over containment, and under the principles of parity and dignity, engage in cooperation with the legal government chosen by Taiwan's people."

"This can start from the resumption of tourism on a reciprocal basis and enrolment of degree students in Taiwanese institutions," Lai said.