The drills were the latest show of force by China, which claims Taiwan as its territory and has protested Western support for the island.

China is holding live-fire drills off the coast of its southern Fujian province facing Taiwan, just a week after a massive air-and-sea drill it described as punishment for Taiwan's president rejecting Beijing's claims of sovereignty.

China's military is conducting live-fire drills around islands near Taiwan Tuesday that are being tracked by the Taiwan Defense Ministry.

China's banks cut their main lending rates, in a well-telegraphed move, as policymakers intensify their efforts to boost the slowing economy. Find out more:

U.S. and Canadian warships sailed through the Taiwan Strait on Sunday, almost a week after China held massive war games around Taiwan, which Beijing claims as its own territory. The destroyer USS Higgins and the Canadian frigate HMCS Vancouver made a “routine” transit of the Taiwan Strait meant to uphold the principle of freedom of navigation for all countries,

The Chinese military criticized the US and Canada for “undermining peace and stability” by sending warships through the Taiwan Strait, just days after Beijing conducted major drills around the island.

A U.S. destroyer and a Canadian frigate navigated through the Taiwan Strait just one week after China scrambled air and naval forces around Taiwan.