China's navy and army have a relatively small but modern amphibious warfare capability:
For the last decade China has been diligently building more amphibious ships. This was largely an effort to replace aging Cold War era relics while upgrading the amphibious fleet overall. Currently China has three LPDs (the U.S. has nine), 90 landing ships (LSMs and LSTs) and 160 landing craft. ...
Most of the smaller amphibious craft actually belong to the army and, until recently you could tell that because the army ships were painted blue, while the navy ones were gray. But now the army is also painting its ships gray so you will have to get a closer look to tell who owns what. That is even more difficult now that the army is building more large ships, like new one the army officially describes as a RO/RO (Roll On/Roll Off) ship but on closer examination it is an LSM that can carry a dozen vehicles and about two hundred troops. In other words a mechanized infantry company.
These ships would be very useful for seizing small islands in the East China Sea and the South China Sea.
Of course, our Marine deployment to Australia--backed by Marines in Guam and elsewhere--would contest such a campaign.
China's large-scale amphibious operation capabilities are also sizable, despite often dismissive characterization of China's capabilities:
China also keeps track of hundreds of commercial ferries and barges that can be mobilized by the military and used for amphibious operations against Taiwan. It is believed that there is sufficient lift for over 300 infantry and mechanized (tank and mechanized infantry) battalions. That’s about 24 divisions. There is additional shipping (mostly civilian) for moving support units.
That's the assault echelon of 24 divisions, of course. Plus whatever support units the additional shipping can carry.
And add in airborne capabilities.
An invasion of Taiwan could be accomplished with dry feet.