I think China is trying to hack into our mainframes as much as the rest of the world. Warfare isn't just bombs and guns anymore. Warfare is computer systems and the spies are computer programmers. China just got caught at it. That does not mean that they have stopped trying to hack us, it just means they have gotten sneakier about it.
Yes, I do believe China is still trying to breach private information from American websites. If you can gain access to sensitive and necessary information to protect yourself, anyone would. It's every man for himself out there and China is simply doing whatever they think that they can to get a step ahead.
I think China is always trying to steal private data from American websites. I think China is constantly undertaking cyber espionage. They have been proven to do it, so why would you think it's stopped? I don't think China will ever stop until we figure out better ways to counter it.
China has no motivation to stop spying on us. I am sure America is doing the same with China. It is the name of the game. Spying has taken on all facets of the world and now it is elevating into the internet. Private industries lead to greater projects and they would rather cheat than do the work themselves. It is still wrong on ethical grounds. No one should condone what they are doing, but I am sure they are still attempting to do it, but with a little more guile.