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Phase 1 - Study Foreign Technology
During the first stage, China has bought several scrapped carriers from overseas in order to study the parts.
Phase 2 - New Construction
China appears to have chosen to build a Chinese aircraft carrier, rather than purchasing one off-the-shelf. Although China’s long-term goal is to acquire one or more aircraft carriers and it has an active program to develop a design, it remains unclear whether Beijing has reached a firm decision on the kind of carrier it will have, given budget constraints and naval funding priorities.