Let's be honest here. China is using Russia to see how this goes, if it goes negative, they will abandon Russia. If Russia would have seized Ukraine within 2 days, the wouldn't have done anything.
They are just playing the waiting game and try to take advantage of it, see the "Art of War".
And if you didn't realize it. Russia is now dependant on China, not the other way arround. China will get their cheap resources and Russia will have a lot less export markets/profits. It's litterally a win for China without doing anything.
In the meantime, there will be a strategic change in the West where the old idea of "trade will help democracy" is abandoned and the realization that it can't be applied anymore for 'bad actors'.
Russia would never have continued on this path without China's permission. If China was "our ally", they would have voted as such on the security council, instead of lifting restrictions on Russia - https://edition.cnn.com/2022/02/25/business/wheat-russia-chi...