TAIPEI - Taiwan's ruling Kuomintang (KMT) party will celebrate its 118th anniversary on Saturday with thrift due to the current poor economic situation, an official of the party said Thursday.

Tseng Yung-chuan, KMT's vice-chairman and secretary-general, told a press briefing that KMT's chairman and Taiwan leader Ma Ying-jeou will lay a wreath at Dr Sun Yat-sen's Memorial Hall in Taipei on Saturday.

The party's branches in 22 counties and cities around Taiwan will hold charity events, including visiting disadvantaged groups, blood donation and charity sales.

"We hope the events can truly reach out to the public," said Tseng.

Dr Sun founded Revive China Society, the predecessor of KMT, in Honolulu, Hawaii on November 24, 1894. The society was later merged into Tongmenghui and in turn became KMT.