Mr Chen said a second term would be good for business and expressed pride that Taipei had joined the top 10 Asian cities in terms of livability and business-friendliness under his guidance.

'After emerging finally from the burden of the KMT and vested interests, we have fostered a fairer and more rational investment climate during the past four years and received wide approval from the business community,' Mr Chen told the Business Post.

Deputy Mayor Lin Chia-cheng said the gains included smoother transportation, lower crime rates and a sharp boost in efficiency.

'When we came into office January 1, 1995, it took 59 days on average to apply for a construction licence, but as of October 31, 1998, this period was cut to 8.5 days,' Mr Lin said.

Mr Chen has issued a '101-point action plan' of detailed commitments for his second term, encompassing endeavours to turn Taipei into an 'intelligent' city with Asia's most advanced electronic government and a 'multi-centred international city'.

Further improvements are also promised for public safety, cultural, educational and recreational options, and environmental quality.

Besides questioning Mr Chen's claims for progress and charging that his administration has mismanaged the city's finances, Mr Ma has also drawn up a list of campaign promises.

'Taipei still lags behind Tokyo, Seoul, Hong Kong and Singapore in business-friendly ratings and opportunities are lost because there is no special organisation to promote economic development and because of cuts in investment funds,' he said.

'There are so many things Chen should have done in the past four years but waited until just before the election to start, causing a decline in Taipei's competitiveness.' Mr Ma's key promises include formation of a new city economic development commission, establishment of several 'knowledge' industry parks, a balanced city budget and smoother co-operation with the KMT-run central government.

Mr Chen said delays in many projects, including renovation of old districts, was caused by the obstruction in the KMT-New Party dominated city council and the tardiness in approving legislation.

The latter rules, passed by the Legislative Yuan in October, will give city governments more authority to promote urban rebuilding over opposition by small minorities of landowners.

Mr Lin also cited a reduction in the city's deficit by more than NT$5 billion (about HK$1.15 billion) during the past four years despite a sharp expansion in social welfare expenditures. He denied city spending in economic fields had been cut.

The deciding factor may not be the candidates' broadly similar blueprints but perceived differences in capability of implementation and forceful leadership.

'Chen's management style is business-like with clear division of labour and delegation of authority,' said one businessman.