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Notes -
It's absolutely in China's interest to make Russia weaker - Russia has juicy resource-rich Siberia which is much closer to China than to any major Russian centers, and also getting some cheap oil and selling some low-quality phones and weaponry with inflated price tag wouldn't hurt either. China is ecstatic to see the West and Russia fight. But they don't want to lose the Western markets - so they'd help Russia as much as they can (and extract as much cash as they can from it) without pissing off the West enough to cause them to agree to suffer all the economic hardships that detachment from China would cause. Which leaves them not infinite, but pretty substantial space for maneuver. China is clearly the beneficiary there, and is interested in prolonging the conflict as much as possible, but not much in Russia winning (it's probably better for them if Russia loses, but after a very long war).
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