I also think that the Ukraine-Russia war has ennobled China's diplomatic and economic position. First of all, we see a diplomatically strong China trying to end the war. Secondly, China is one of the most profitable countries in this war because it is getting barrels of cheap oil and gas from Russia. Putin needs to sell his hydrocarbon resources to China and countries like China (e.g. India) in order to fund the war.
RE: Why China's Invasion of Taiwan is Unlikely?