From other sites one can learn that the Chinese govt. is involved in this new OS development. That alone clarifies that this OS is solely intended for Chinese market, not international.
So no, this is NOT an attempt to launch an entirely new OS worldwide. Remain calm, people. I suspect this one will also be based on Android (if I remember correctly I read about it somewhere else), but it will be only directed towards the Chinese market.
I was thinking "cause that worked so well for Nokia and Blackberry", but now it makes sense. Chinese market alone is big enough to justify this, and their government is the big brother type, so it makes perfect sense.