Sadly, it's not called Capitalist Running Lackey Pig Dog Army. Nor is it called China's Army. It's called Mission of Honor, which for fans of Chinese rip-off naming conventions is still pretty great.
It's been in development for two years, and it has been created in conjunction with the People's Liberation Army, who see the title in much the same way as the US military sees America's Army: an infantry simulator which doubles as a recruitment tool.
Split into three "campaigns", the game recreates the first steps of a soldier's career, taking them from basic infantry training through to combat conditions.
While it's been developed primarily as a PR exercise, the game is also targeting the popularity of "foreign" titles played on PLA bases, "which may have different military values and mislead Chinese army officers and soldiers" according to the PLA Daily, the army's official newspaper.
It'll be out "soon".
China's PLA develops own military game [ChinaDaily, via Gamasutra]