China, which has never renounced the use of force to bring democratically governed Taiwan under its control, has stepped up military and political pressure against the island in recent years.
"The focus is on exercises such as combat readiness patrols at sea and in the air, seizing comprehensive control, striking maritime and land targets and imposing blockade controls on key areas and routes," a statement from Eastern Theater Command said on Tuesday on its official WeChat social media account.
Taiwan's Defence Ministry said in a statement on Tuesday that China's Shandong aircraft carrier group had entered its response area on Monday, adding the group had dispatched military aircraft and ships and activated land-based missile systems in response.
"The Chinese Communist Party has continued to increase its military activities around Taiwan and in the Indo-Pacific region ... and has become the biggest 'troublemaker' in the international community," the statement added.
China's military released a series of propaganda videos in quick succession after the drill announcement, depicting Chinese warships and fighter jets encircling Taiwan, Taipei being aimed at from above, and military vehicles patrolling city streets.
A video of a poster accompanying the drills titled "Closing In," and showing Chinese forces surrounding the island, was released on the Eastern Theater Command's Weibo.
This was followed by a video titled Shell, depicting president Lai as a green cartoon bug spawning parasites across the island, on the Eastern Theater Command's WeChat page.
"Parasite poisoning Taiwan island. Parasite hollowing Island out. Parasite courting ultimate destruction," the animation said.
Taiwan Defence Minister Wellington Koo said such rhetoric was not conducive to peace and "shows their provocative character," when asked about Lai's cartoon depiction.
A third video, Subdue Demons and Vanquish Evils, featured Sun Wukong, the magical monkey king from the Ming Dynasty epic Journey to the West as he is depicted in the Black Myth: Wukong hit video game.
It opens with the video's title flashing across the screen and the Chinese mythical warrior riding on clouds before cutting to footage of Chinese fighter jets.
"The joint exercise and training conducted by the Eastern Theater of the Chinese People's Liberation Army (PLA) in the vicinity of Taiwan Island is a resolute punishment for the Lai Ching-Te authorities' rampant 'independence' provocations," said Zhu Fenglian, a spokesperson for China's Taiwan Affairs Office.
Taiwan's Koo told reporters the PLA should focus first on resolving its issues with corruption instead of destroying peace and stability in the region.
China's military has undergone a sweeping anti-corruption purge over the past few years, which saw former Chinese Defence Minister Li Shangfu ousted in October.
China's defence ministry did not immediately respond to a request for comment on Koo's remarks.