A soldier takes part in the live fire Han Kuang military exercise (REUTERS)

Taiwan's military said Thursday that its forces were closely monitoring unprecedented Chinese drills in waters surrounding the island, claiming that it was ready for conflict but would not seek it.

"The Ministry of National Defense stresses that it will uphold the principle of preparing for war without seeking war, and with an attitude of not escalating conflict and causing disputes," Taipei's defense ministry said in a statement

This comes after China's largest-ever military exercises encircling Taiwan kicked off Thursday, after a visit to the island by US House Speaker Nancy Pelosi.

The exercises will take place in various zones throughout Taiwan, including some within 20 kilometers (12 miles) of the island's shore, and will conclude at midday on Sunday.

It is worth noting that a US Air Force plane carrying US House Speaker Nancy Pelosi landed Tuesday in Taiwan's capital, Taipei, at 10:44 pm local time (14:44 GMT), according to a live video broadcast from the airport.

The significance of Pelosi's visit is that it comes at a time of great tensions between the US and China over Taiwan, and marked the first visit made by a US House Speaker to the Island since 1997.