A couple of things are not clear in your question. You said it takes you 7 minutes to read a page in a novel. What reading level is the novel? And how many characters are there on a page? I just looked at my "Hong Lou Meng". There are approximately 700-800 characters on each full page. So if you're talking about a "Hong Lou Meng" kind of novel, I would say 7 minutes is not bad at all.
Another question is: what problems did you encounter during the seven minutes? Do you have problems with character recognition? With pronunciation？ With meaning? With grammar?
The way I see it, if you're reading way too slowly, it usually means you're struggling with something. And if you are struggling, the most likely reason is the reading material is too difficult for you. I agree with @2ndQuantized that you need to find materials that you can process more easily to improve speed.
Another thing I would suggest is reading aloud. This is not to help you with pronunciation, although it will also do that, but to help you parse the sentences and to understand the sentence structure. Reading aloud forces you to figure out which characters should be grouped together, and which characters should be stressed and so on. You will also be adding intonation, which will also help you with comprehension. In other words, to be a better/faster reader, you need to feel comfortable with which characters are grouped together. If you practice a lot of parsing, you will learn the structures of sentences. This will help your reading.
You also asked: as a foreign speaker am I just destined to not read Chinese nearly as quickly as I read English?
Please do not even entertain this idea. Nobody is destined to that. You have learned a new language for 10 years and have improved greatly. You ought to be proud of yourself. Having said that, of course there is always room for improvement. Happy learning!