An interagency group set up by China in the first months after the start of the Russian full-scale invasion of Ukraine is studying the impact of sanctions and regularly preparing reports for the country's leadership.

China is gearing up to protect its massive economy from the possibility of Western sanctions, much like those that have hit Russia since its conflict with Ukraine. In case tensions with the West over Taiwan escalate,

China is closely monitoring the effects of Western sanctions on Russia to prepare for a possible invasion of Taiwan, The Wall Street Journal reported.

An interagency group set up in the wake of the Ukraine invasion has been reporting back to Beijing with lessons it can use in case of war and Western penalties.

China has sent officials to the Russian central bank to study the effects of Western sanctions for a better understanding of how it would be affected if it were to invade Taiwan.