China will "fully respect" Taiwan's way of life and social system once it has been "peacefully reunified," as long as national security is protected, the ruling Communist Party said on Tuesday, in another overture to the self-ruled island.

China claims democratic Taiwan as its own and has stepped up pressure on the strategically located island since President Tsai Ing-wen assumed office in 2016, fearing she wishes to push for its formal independence, a red line for Beijing.

Taiwan, which holds presidential elections in January, has shown no interest in being run by autocratic China.