No doubt China has the industrial capacity and resources to fund and construct 10 nuclear subs a year but why should China do that?
The primary mission for 09V still seems to be the protection of SSBN's. If the steady-state number for China's SSBN fleet is around a dozen, three dozen SSN's seem to make sense. To assign 09V's a major land attack role is both political unwise and unnecessary in the APAC region. Australia is not worth it.
From a different angle, if we look at the ratio between PLAN and USN major surface combatants, it seems China is content to be at 1:2 to 1:3. Half of 70 is 35.
Both point to a very sustainable and efficient 2 to 3 per year production rate. So if you are rich, you build a factory that can surge to 4 to 6 just in case. 2 SSN's and 1 SSBN per year is very decent pace stretching beyond 2030. Who knows what technology or direction undersea platforms will be. Don't forget the more boats you have, the more factory space/time you need for overhauls/MLU's especially beyond 2030.
If I am a planner, I must ask what are my resource constraints, who am I trying to impress, how much do I need to do the impressing, what my enemy is projected to have, and most important of all, how likely will there be a shooting war. China made a huge bet on peace in the 1990's to focus on the economy and very little on military. It won big. Now China is almost caught up with the hardware deficit. How likely will there be a war between China and the US in the next 20 years? Not very likely so why overbuild? In the end, a nation's wealth is measured by how much money in the bank, not how much rusting metal in the junkyard. By 2030 when China's economy is twice that of the US in PPP terms, does US really matter? To compare China/US in 2030 is like comparing US/China in 2010. By 2030, I think it will be the US that will give up trying to keep up with China.
Last point, the USN FY2021 budget, despite all the talk, has money for only one Virginia and one Columbia subs. USN's submarine fleet is declining to a low of 56 (42 SSN + 1 SSGN + 13 SSBN) by 2029 (
). US faces two oceans with two enemies China and Russia. USN will be paying for the Columbia program for the next decade while the total defense budget must go down. If I am China, why do I need more than a dozen 09V's and six 09VI's? I rather spend the money saved on other game changing toys. This line of reasoning points to an a two subs per year pace being adequate. Factor in the need to replace all the subs built before 2000, a 'surge' rate of 3 per year for the next dozen years still sound the most reasonable. I am cheap. Three is a lot!