I suspect china is looking at this and thinking a number of things: 1) It needs to control banking infra (it has a messaging system similar to swift already)

I suspect china is looking at this and thinking a number of things: 1) It needs to control banking infra (it has a messaging system similar to swift already) 2) Putin is acting even more boldly than normal (I suspect it was assuming that he would try and fully annex donbas & Luhansk and a bit more, then wait another few years to try again) 3) The Russian bear that is it's land army really isn't that great. The modernisation hasn't stretched to tactics or maintenance. 4) Russia shares a decent land border with china, might need to think again about the security there. Sure Xi and Putin are "best buddies" but real politik > than friendship for dictators.