China does not yet have a blue water navy but it's working on it. This is China's first aircraft carrier. They bought an unfinished one from the Russians at fire sale prices and finished it to their own specifications. It will be interesting to see how long it takes them to complete training to effectively use the carrier and coordinate fleet operations to protect their new crown jewel.
The Chinese want to deny us the ability to reinforce Taiwan and even Korea and Japan. They are at odds with the Vietnamese over several island groups in the South China Sea and generally want to throw their weight around Asia. This includes intimidating India. I think you can reasonably expect to see a series of knock-offs of this ship around the western Pacific in the next decade.
www.industryweek.com/articles/chinas_first_aircraft_carrier_makes_maiden_trip_25336.aspx?SectionID=3
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