Define NATO standard .
Unlikely within this decade for almost every field, PLA is first too big to do major changes across the board.
Take example the uniform, if previous uniform change are a president this might be done in a decade or so , and even then if could be argued that might not be NATO standard.
In any case personal gear might have the smallest affect for combat efficiency for a given army over all.
That why for decades the main focus has been modernizing other hardware. Give a battalion new IFV going to make a bigger difference
then switching rifles, uniform, plate carrier, helmet, for the whole brigade.
On that note I think the time line put forth by the central committee is realistic, PLA will be a peer to US in later half of this century, in around 2050 or so.