TAIPEI, June 10 (Xinhua) -- Taiwan leader Ma Ying-jeou announced Wednesday afternoon that he would run for chairman of the ruling Kuomintang (KMT) party in Taiwan.

Ma, who served as the party's chairman between August 2005 and February 2007, made the statement to the press after a top-level KMT meeting.

Ma said he was running not to gain more power, but to better fulfill his responsibilities.

He said the financial crisis has sent Taiwan into an economic recession, and under concerted efforts, the economy has improved although not yet fully recovered.

At such a moment, he must "take full responsibility" to save the island's economy, Ma said.

He also called for support from party members and promised to promote the party's reform and solidarity.

KMT Chairman Wu Poh-hsiung said he would not run for KMT chairman after he learned of Ma's intention to run.

He said Ma as chairman would benefit the party and wished him success.

The KMT is scheduled to elect a new chairman on July 26. Potential candidates are required to submit their applications June 15-16.

Fan Liqing, a spokeswoman of the State Council Taiwan Affairs Office, offered no comment on the coming KMT chairman election at an unrelated press briefing Wednesday morning in Beijing.

Fan, however, said, "The KMT and the Communist Party of China, via a party-to-party exchange mechanism, conducted in the past few years a lot of fruitful activities which dynamically stimulated the peaceful development of cross-Straits relations."

"We believe that the exchange mechanism would further play an important and active role," Fan said.