Taiwan rebutted Beijing's criticism of President Chen Shui-bian's inaugural speech saying Chen's speech extended a large amount of goodwill and sincerity to the mainland. His comments followed a warning from Beijing's Taiwan Affairs Office that China was prepared to ?pay any price? to prevent the island declaring formal independence. The office said Chen's inauguration address showed no sign he had abandoned what it called his ?agenda for independence? and did not acknowledge that Taiwan was part of ?one China?.