Their next target now that Hong Kong is done, is obviously the annexation of Taiwan. Xi will make his move on Taiwan this decade certainly. He'll want to bring about a reunion with the mainland during his time in power, to try to ensure a consequential legacy of accomplishment (something he entirely lacks now). China will also continue to solidify its hold on the annexed territory in the South China Sea. I would expect further hostility and conflict with most of its neighbors, as China's territorial and military ambitions expand by the year.
After Trump likely loses the election, there will be a big decision as to whether Biden & his new administration will lay down for Beijing (reduce the confrontation) or continue to ramp the challenge to their geopolitical sprawling. If the new administration chooses to continue to challenge China, the way to do that will be to orchestrate an anti-China group with as many US allies as possible that coordinates against every detail of China's global hegemony quest. Right now the coordination is mediocre. The countries standing off against China are too far out on their own and not in a great position of strength vis-a-vis China (Australia for example); the US should immediately come to the aid of any nation that China tries to intimidate. If India and China conflict militarily, the US should immediately offer military gear that would be helpful. If China threatens Australia's economy, the US should offer to assist economically (we run a trade surplus with them, we can do a lot with that to their benefit). Even better would be if the US organizes a group of three dozen or so nations that work together to do that sort of thing on short notice. The China response & containment bloc of nations. The US + EU + Japan + UK + Canada + South Korea + India + Australia + New Zealand = $50+ trillion in economy, more than enough to restrain China as necessary, and that's a group that can easily work together.