The Varyag is almost done, the painting is complete and the Hull on top is being attached onto. The Varyag is still a good aircraft carrier and it's in good conditions because it was a project that Ukraine had never bothered to finish and sold to China in new conditions. Russia even offered an improved 2 seater version of the Navy Su-33 Flanker to China.
It's performance comes near India's INS Vikramaditya aircraft carrier.
China's Varyag:
2 Type 051C Air-defence missile guided destroyer (DDG) are being built. You don't built 2 Air-Defense DDGs for no reason if you aren't planning in any way to build a carrier fleet pretty soon in my opinion.
Specifications
* Designer: Nevskoye Planning and Design Bureau
* Builder: Nikolayev South
* Displacement: 43 000 t light, 53 000-55 000 t standard, 66 600-67 500 t full load
* Length: 300 m (984 ft) overall, 270 m (886 ft) at waterline
* Beam: 73 m (240 ft) overall, 38 m (125 ft) waterline
* Draft: 11 m (36 ft)
* Armament:
o 12 P-700 Granit SSM (SS-N-19)
o 24 x 8-cell SA-N-9 Gauntlet SAM VLS
o 8 CADS-1 CIWS (each 2 x 30 mm gatling AA plus 16 SA-N-11 SAM)
o 8 AK-630 antiaircraft guns (6 x 30 mm, 6,000 round/min/mount, 24,000 rounds)
o 2 RBU-12000 UDAV-1 antisubmarine rocket launchers (60 rockets)
o Klinok air defence missile system (24 launchers, 192 vertical launch missiles; rate of fire: 1 missile per 3 s)
o Kashtan air defence gun and missile system (256 missiles, 48,000 rounds; range: 0.5 to 1.5 km)
* Aircraft:
o 12 Su-33
o 4 Ka-27LD32
o 18 Ka-27PLO
o 2 Ka-27S
* Propulsion: Steam turbines, 8 boilers, 4 shafts, 200,000 hp (149 MW)
o 2 x 50,000 hp (37 MW) turbines
o 8 boilers
o 4 fixed pitch props
o 9 x 1500 kW turbogenerators
o 6 x 1500 kW diesel generators
* Range: 3850 nautical miles (7 100 km) at 32 knot (59 km/h); endurance: 45 days
* Speed: 32 knots (59 km/h)
* Complement: 1960 + 626 air group + 40 flag, 3857 rooms
* Armor: heavy
http://en.wikipedia.org/wiki/Kuznetsov_class_aircraft_carrier