TAIPEI—China launched major military exercises in the waters and airspace around Taiwan Monday in what it called a “stern warning” against outside interference in Chinese affairs, as tensions grow with the U.

China has launched a new round of military drills around Taiwan, a move it said was a warning to “independence” forces and which follows Taipei’s largest-ever weapons procurement deal with the US.

The joint Chinese military drills will involve army, navy, air force and rocket force operating in the Taiwan Strait as well as in areas to the north, south-west, south-east and east of Taiwan, accord...