China wants Russia to at least keep the Ukraine war going, if not eventually win the darn thing. Russia winning (or getting away with an armistice that lets them keep Crimea and Donbas) means a precedence China has for a land-grab of its own - obviously Taiwan, but other countries in its "sphere of influence" have seen hostilities for years, from land grabs [1] to overfishing [2], not to mention the border dispute with India.
And as long as we are distracted with Israel/Palestine or Ukraine/Russia, China has free rein to do whatever they want.
[1] https://en.wikipedia.org/wiki/Territorial_disputes_in_the_So...
[2] https://nationalinterest.org/blog/energy-world/chinas-overfi...