On June 26, 1983, Deng Xiaoping announces a new outline for peaceful reunification with Taiwan. He promises a "high degree of autonomy," continued maintenance of Taiwan's socioeconomic and political systems as well as its armed forces, and continued external relations, all in exchange for the renunciation of sovereignty and independence. This concept becomes known as "One Country, Two Systems."

Deng's Six Conceptions
Deng Xiaoping's "One China, Two Systems"