To our military's credit, the Navy will be developing a variant of the Tomahawk (range: 1000+ miles) that can hit seaborne targets, which should serve to counter China's edge in IRBMs.
They've also upgraded the Sea Sparrow missile, which is Navy's defensive weapon of choice against anti-ship missiles.
This marks changes in their procurement policies, in which they now opt to upgrade existing platforms instead of designing new ones from scratch every time there is a need for further innovation to counter a new development in the capabilities of our foes. This should save considerable amounts of money and raise the overall cost-efficiency of the military.