In summary, faced with economic slowdown, technical challenges in nuclear propulsion for carriers, lack of an effective aircraft to operate on carriers, neighbors all acquiring modern SSKs, and of course US, SK, Japan navy and submarine forces to contend with in Pacific, PLAN is cutting back on ambitions.
Another question is if this will translate to a slowdown in other PLAN projects, Type-055, Type-054B, or maybe reduced numbers in Type-075. Also wonder if Type-095 and 096 subs will face slowdown.
Can't edit original post but the source for this article came from SCMP by a fellow name Minnie Chan. Some of you may regard her as an unreliable source. Makes me wonder whether this is an act of disinformation.