According to China Defense Blog, it was initially labeled to be a project by "college students" for the 601 Aircraft Design Institute/Shenyang Aircraft Corporation. Clearly, it's much more than that.
It seems obvious that China's military complex is advancing at a higher pace than many in the West would like to believe. It is not comparable to the United States yet, but the technology matching may be a matter of years and not decades. And it has already happened in the cyber war front. More here.