China is in a very uncomfortable situation imo. More than staying neutral, they are probably trying to find a way out.
They have: (0) enabled an unprovoked attack from Russia on Ukraine, undermining peace in Europe, (1) said that their ties to Putin have "no limits", (2) shared intelligence coming from the US with Russia, (3) not moved their own citizens out of Ukraine and (4) enabled a nasty rhetoric about Ukrainians
By going for self-interest and mercantilism over a principled and fair approach to international affairs, what China is doing is destabilizing and dangerous. China needs to be contained.