China desires a multipolar world as much as Russia does. They want to be able to muscle everyone in their sphere of influence. Make no mistake, authoritarians were on the rise over the last few years, Russia being smashed this badly wasn't expected in Moscow or Beijing.
I strongly suspect Xi knew about the invasion and asked for a delay until the Olympics were over. They aren't honest brokers about peace because they desire an end to American hegemony as much as Russia wanted it.
China unleashed a pandemic on the world that killed tens of millions, Russia started a war of vanity. Their respective systems of mafia governance are a blight on the world.
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