Latest US Military Defense Intelligence report predicts that China has spent a ton of money on modernization with an eye on Taiwan
https://www.cnn.com/2019/01/15/polit...ort/index.html
Video from the latest Chinese Naval excerciese
Heavily featured, the Liaoning China's first operational Aircraft carrier, J-15 Carrier launched fighters (China's already looking for a new Carrier Aircraft because the J-15 has a worse operational safety record then the F-104 Star Fighter). The brand new type 94 ballistic missile submarine is also shown.