The PLA is a political force that is meant to support the Party. 99% of what they do is keep people from spitting gum at Tian an Men or keep the peasants in line. Currently there is a huge problem with the division of rich and poor in China and some areas are not really in government control any longer. Except for a few specialist units the PLA is a police force.
Outside of the showcase cities China is a 3rd world country. Here are some recent pics that are very good examples of what you see in central China:
http://www.pbase.com/orchard/china
To sum it up China is not yet capable of projecting military power and there is no credible threat to Taiwan now. In time yes, but not for many years. And I don't think they will go this route...Taiwan is a Chinese ethnic nation and in time the borders will blur. The people at the top know winning Taiwan is not a military struggle.