China sees the Antiship Ballistic Missile as a weapon to deny the access of a technically more advanced navy, such as the US navy, to the waters near Taiwan. The problem is that in this nuclear era, all major nuclear powers have developed early warning system against nuclear attack, and there is not way to differentiate if the ASBM carries conventional warhead or nuclear ones until after the impact. How China can possibility restrain a nuclear retaliation if deploy ASBM? If not, is China ready for a total nuclear warfare? Of course, there are at least 5 technical areas that makes this ASBM impractical, but that is a different topics.
Of course, conventional wisdom says the Chinese leadership believe the ASBM development is a means of deterrence, and is never meant to be deployed for real. Hopefully, the Chinese leaders understand this, otherwise, it will be a great tragedy.