How is China playing this?
a) Observing carefully as how the West is playing this crisis, how far they are willing to go when China invades Taiwan Russia invades Ukraine. How powerful is the response, how far is the West willing to go.
b) Keeping a distance from both sides, but not "the same distance" from both sides:
In my opinion, these two big countries (Russia and China) are countries that have the same goal. It's almost like wanting to bend the shoulders of the US so that it can't move when these 2 countries become ideal partners. Freeze the economy with great power. There is no denying that China's position is behind Russia. And vice versa when China wants to invade Japan and Taiwan. So sending mutual aid between China and Russia has proven that the 2 powers are attacking the US indirectly. US relations cannot be separated from Japan and Taiwan, which were deliberately provoked by Russia and China themselves.