Initial cost estimates for the first of the four planned Type 055 DDGs is in excess of $5 billion Yuan ($750 million USD). The GOA reported in 2016, that the per-unit cost of an Arleigh Burke Flight IIA is approximately $1.19 billion USD.
Satellite imagery taken of the Jiangnan Shipyard show the Type 055's under construction.
The Eastpendulum site has satellite imagery from November 2016. It seems to show a third Type 055 Destroyer is being built at Dalian shipyard in Northern China. The first two hulls are currently under construction at Jiangnan Changxing naval shipyard new Shanghai. Type 055 is the next generation class of Guided-Missile Destroyer (DDG) for the People's Liberation Army Navy (PLAN or Chinese Navy).
The first vessel is likely to be launched in early 2017 while delivery to the PLAN (navy) should not happen until 2018 at the earliest.
The chinese navy is still building the current Type 052D destroyer which is half the size. Both Dalian and Jiangnan naval shipyards are showing several under construction. This is a sign that the Type 055 will not replace the role of Type 052D: The Chinese navy will acquire and operate destroyers of both types displacing 6,000 and 12,000 tons. Sources indicate that Type 052D and Type 055 seem to share a great deal of systems, such as phased array radars, vertical launch systems, main gun, CIWS, as well as possibly the hull mounted and towed sonars.
SOURCES- globalresearch.ca, Navy Recognition