High Quality Content by WIKIPEDIA articles! The 1992 Consensus or Consensus of 1992 is a political term referring to the outcome of a meeting in 1992 between the semi-official representatives of the People`s Republic of China (PRC) in mainland China and the Republic of China (ROC) in Taiwan. The KMT of the ROC says that the consensus exists, while the DPP of ROC and the President of ROC in 1992, Lee Teng-hui, deny the existence of the 1992 consensus. The Consensus, as described by some observers, is that, on the subject of the "One China principle", both sides recognise there is only one China - both mainland China and Taiwan belong to the same China, but both sides agree to verbally express the meaning of that one China according to their own individual definition.