These exercises are meant as an intimidation. Indeed, Xinhua reports that they are a 'warning' to separatist forces.

  • Starting April 1, China's PLA Eastern Theater Command will conductt joint military drills around Taiwan island, involving the Army, Navy, Air Force, and Rocket Force. Exercises focus on combat readiness, sea & air strikes, and strategic blockade operations.

Geopolitical tensions are not going to be dissipating much at all in the near future.

Taiwan China USA
Source: Forex Live