First things first.
China’s First Lady, Peng Liyuan is a Major General of the People’s Liberation Army General Political Department.
The song roughly translates to the following.
Brother soldiers you are awaken by bugles.
You find that the world is not at peace and in turmoil.
The flags waves as the tanks advance.
Are you ready brother soldiers when the day comes.
When the day comes that you raise up and fight.
You get the idea.
Standard Communist Agit-Prop.
I think this is a broadcast of the annual Military Cultural Show on Chinese TV.
Average Chinese citizen’s reaction to that song? “Yeah, whatever. I’ve got serious cash to make today.” :)