The Taiwanese newspaper Formosa Post will launch an online version in early July, the Taipei Times reported Monday. The decision to launch an online version rather than print is in response to the financial difficulties that plagued the intended launch of the print edition. Former vice president Annette Lu says she plans to initiate the electronic version of her paper, which will eventually be followed by a weekend paper edition.

Lu said she hopes to raise NT$600 million (US$17.14 million) to establish the company on March 22.

In keeping with Lu's intention to "create a newspaper that served the public" the publication will accept contributions from readers as well have its own reporters, according to the Taipei Times article, posted by Asia Media.

The paper is also intended to "inform the national community of what is really going on in Taiwan" with the purpose of pushing for progress in areas such as the country's normalisation and globalisation.