Ma Ying-jeou, Taiwan’s president-elect, took early steps to manage expectations of a quick and far-reaching rapprochement with China on Tuesday, in a move that could disappoint foreign investors who have stormed into Taiwan in anticipation of improved cross-Strait relations.

Mr Ma told the Financial Times he would not personally engage in dialogue with Chinese leaders because this could be too controversial in Taiwan. He also said his government would take a gradual approach to deregulation of cross-Strait economic ties.