In my opinion, not in the slightest.
You really can't compare the two navies. The PLAN is a limited regional power, while we all know the US Navy is the largest, most experienced, and most capable navy floating around our plastic filled waters. A few things would happen:
1. Militarily, China is no match for the US, and I don't say that to beat my chest. It's just the raw truth. In combination with the US Air Force, it would not take long to silence the PLAN. The US would not need to land any major ground force to win this war whatsoever.
2. Economically, China is an export country. With a blockade in place, there would be an immediate Chinese economic crunch. Both parties would be hurt, but China would be hurt a lot, lot more.
3. Socially, China has a lot to risk from a potentially devastating war.
So in conclusion, I do not believe China would do anything to risk war with the US Navy. I do believe they have been testing the waters (no pun intended) to see where the "red line" is, but a frontal engagement with such a force would throw the PLAN 30+ years into the past. It takes many decades to build a blue water capable navy like that of the US, and ours was fast tracked because we had to. Until China can rival the US militarily, you won't see them stand their ground. They have way too much to lose to simply throw it all away.