The Treaty of Shimonoseki was signed on April 17, 1895, marking the end of the First Sino-Japanese War between China and Japan. Under this treaty, China recognized Korea's independence and ceded Taiwan and the Pescadores Islands to Japan. Additionally, China had to pay a large indemnity and grant Japan commercial rights in several cities. The treaty significantly shifted the balance of power in East Asia, establishing Japan as a major imperial power. It also led to increased foreign influence in China, contributing to the decline of the Qing Dynasty and setting the stage for future conflicts in the region.