TAIPEI, Taiwan, May 20 (UPI) -- Taiwan's President Ma Ying-jeou, who was elected in March on a promise to improve trade relations with mainland China, was sworn in Tuesday.

Ma, 57, urged both China and his country to start "a new chapter of peace" so there can be regional stability, the BBC reported.

Ma succeeds Chen Shui-bian, who had been strong supporter of Taiwan's independence.

With Ma taking over, Chen gave up his presidential immunity, prompting prosecutors to say they have begun a corruption inquiry against the former president, the report said. Chen and his wife have been accused in a $450,000 embezzlement case.

Ma, who represents the Taiwan Nationalist Party, also wants more dialogue with China.