On the other hand, the PLAN should always be aiming for the best, and not just to match the US. Such an attitude is not good. LRASM is coming into service, it would be best to develop an equivalent with even longer range and better stealth as the next-gen cruise missile option to replace traditional cruise missiles.
The Constellation isn't planned with LRASM in mind at present, given how the FFG is already armed with 16 slanted canister-launched NSMs. What they could have instead are Block 5 Tomahawks which are anti-ship-capable, but they do not have LO features.
In the meantime, speaking of long-range anti-ship strike missiles - China already has the YJ-18 (high subsonic cruise - supersonic terminal) and YJ-21 (hypersonic all-the-way) AShMs to work with.
Perhaps the USN and PLAN viewed differently on how to effectively employ strike munitions against surface targets over long distances, with one going for the LO, high-subsonic route, while the other going for the "whoosh catch-me-if-you-can" route.
Not saying that either is good or bad though, as I believe that having both is actually better for China's case.
Finally, for the LRASM - China already has at least one target missile model that is closely based on (and simulating) the LRASM's design (and capabilities), currently being employed for air defense training usage by the PLA. So I don't think that it would be difficult for China to develop a direct Chinese counterpart to the LRASM. All that's left should be whether the PLA is actually interested to field such weapons onboard their warships and warplanes.