The agency was founded on 1 April 1924, by Kuomintang (KMT). Its headquarters was located in Guangzhou of mainland China but had to be relocated to Taipei, following the ROC government after the Chinese Civil War, due to the Chinese Communist Party (CCP)'s victory, while the CCP established its new official news agency, Xinhua News Agency. Despite the incorporation of the agency in 1973, it continued to receive heavy government subsidies, and remained the nation's official state agency. At the time, journalists from CNA received preferential treatment on various occasions, mostly government-related press conferences. On 1 July 1996, the agency took the form of a non-profit organization under a bill passed by the Legislative Yuan. Today, the agency is still the official news agency of Taiwan and receives part of its funding from the Executive Yuan. However, its media influence is said to have diminished a great deal due to a rise in competition after the government decided to lift restrictions on mass media.