Implications for the U.S.? Probably more accurate to think of it as being a small step on the road to serious implications--with many more steps in between. Having a small fleet of Chinese jet fighters would be, for most countries, little more than something to trot out at military parades or perhaps use to blow up minority-ethnic villages. Sure, it makes them feel cool but it doesn't really affect U.S. policy or balances of power except in a very local way. Especially when you consider that the U.S. can have two carriers' worth of Hornets on anyone's doorstep in a matter of days...
Here are some of the more ominous steps that would signal more serious implications--
1) AWACS/E-2 capability. This is a BIG deal, and so far only a very few countries have the technology and the expertise to match the U.S. So, for instance, even though the Indian air force might have the jets and tactical training to more or less match up with the U.S., our big edge is in the airborne command and control. That's why the U.S. made such a big deal about the Israelis sending their Phalcon to China a few years ago.
2) Aerial refueling. Not as serious as #1, but still a big leap forward.
3) Power projection assets such as U.S.-style carriers.
No time to elaborate further.