What made me chuckle was the picture chosen for the piece: Obama accepting the Nobel Peace Prize at Oslo. Regardless of one's position on the new missile, you gotta hand it to the Chinese for picking the right picture.
So what does this mean for Sino-US relations? In the greater scheme of things, very little. The Chinese military is already modernizing its forces while the US remains anxious about China's military intentions. This program, if it goes forward, will only serve the purpose of providing more evidence for those voices in China that view the US as a threat.