Hmm
At first that sounds like a weird theory to me, but on second thought it’s quite reasonable. China has some long term goals, for which a more divided and more poorly controlled US would benefit them. But Trump is a strong immediate threat to their economy so it’s probably better to have him removed for China.
However the more ammo Trump has to vilify China, the more virtuous he appears. If this were really china’s aim, they should be playing the victim. So I think the us presidential race is not their top concern.