It seems like this is essentially the same as our land based space tracking and communication system we have around the world except 1. they are on ships so the Chinese don't have to put it on land where it could be infiltrated or destroyed and 2. they are testing out using a submarine so they could pop it up anywhere in the ocean making it much harder for us to know where it is and when the Chinese are planning to do something.
We should be concerned about it, but this is hardly something to hyperventilate about.
Also, I welcome the Chinese trying to land on the moon. Maybe we can get into a space race again and spend money on advancing science rather than on insuring 25 year old "kids" whose parents make $80,000 per year.