Russian Air Force Tupolev Tu-22M3. Wikipedia
China Buys Tu-22 Production Line From Russia. A Major Threat To The U.S. Aircraft Carriers In The Region -- The Aviationist
For the third time in 7 years (first one being in 2005, second earlier in 2012) several websites in China (link in Chinese) are reporting that China and Russia have agreed for Beijing to buy the production line for the Tupolev Tu-22M3 bomber at a cost of 1.5 billion USD.
Once in service with the Chinese Naval Air Forces the Tu-22M3 will be known as the “H-10″.
The deal struck with Russia comes with 36 aircraft (and engines): an initial batch of 12 followed by a second batch of 24 aircraft are thought to be on order.
The Tu-22 will be employed in the maritime attack role and will be used to attack targets from low level (to avoid radar detection).
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My Comment: Wikipedia has more information on the Tupolev Tu-22M3. So .... for 1.5 billion USD the Chinese are buying the production line of an old bomber .... on the surface I am not impressed .... but the Chinese usually have a very good reason on doing such purchases .... and your guess is as good as mine on this one. On a side note .... if the Chinese start to mass manufacture these planes (and others) .... expect the arms race in Asia to heat up.