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Terry Gou, the head of the world's largest electronics supplier, Foxconn, says he is planning to run for president of Taiwan.

Gou announced Wednesday that he would be putting himself up as a hopeful in the opposition Nationalist Party primary ahead of next year's election.

The Nationalists favor closer ties with Beijing, a policy that accords with Gou's massive business interests in China. Candidates are expected to face a crowded field in the 2020 polls, in which President Tsai Ing-wen of the pro-independence Democratic Progressive Party says she will seek a second four-year term.