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That's too funny.As scary as that may seem, it doesn't look much different than the SS-22 or Silkworm.
But hey, the rig has whitewall tires...gotta give 'em points for that, at least!
There are two things involved in steering - guidance system, and some kind of mechanism making missile go desired way. I think mechanism (be it aerodynamic or pyrotechnic) already exists in existing re-entry vehicles of modern ballistic missiles so nothing new to invent here.
The guidance system is what is new here, in order to deal with moving target on sea surface. If Chinese have produced the material that is both strong enough to withstand great heat during re-entry, while being RF-transparent, and a radar that can 'ground-map' when pointed at almost 90deg, they might have a dangerous system.