The People's Republic of China and the United States of America have agreed to recognize each other and to establish diplomatic relations as of January 1, 1979. The United States of America recognizes the Government of the People's Republic of China as the sole legal Government of China. Within this context, the people of the United States will maintain cultural, commercial, and other unofficial relations with the people of Taiwan. The People's Republic of China and the United States of America reaffirm the principles agreed on by the two sides in the Shanghai Communique and emphasize once again that: --Both wish to reduce the danger of international military conflict. --Neither should seek hegemony in the Asia-Pacific region or in any other region of the world and each is opposed to efforts by any other country or group of countries to establish such hegemony. Neither is prepared to negotiate on behalf of any third party or to enter into agreements or understandings with the other directed at other states. --The Government of the United States of America acknowledges the Chinese position that there is but one China and Taiwan is part of China. --Both believe that normalization of Sino-American relations is not only in the interest of the Chinese and American peoples but also contributes to the cause of peace in Asia and the world. The People's Republic of China and the United States of America will exchange Ambassadors and establish Embassies on March 1, 1979 .