The Tiafeng (Typhoon)
Artist conception of the planned Future Chinese aircraft carrier scheduled for launch in 2020.
The existing Chinese carrier Liaoning is the old Russian Carrier Varyag which was purchased by the Chinese for $18 million and refitted as a functioning carrier, commissioned in 2012.
The name Varyag was then given to the one of the two remaining Slava class cruisers. (Pictured below)