Right the other way. It would be the perfect timing for China. Do you think the west can afford sanctioning the shit out of China now? They can't even sanction Russia properly. Do you think China prefer to wait that the west figured their shit out to depend less on other countries? Plus now Russia, Belarus, depends so much from China... and I bet many other countries are thinking of getting the fuck away from the west financial system, considering how weak that make them, especially now that there's real alternative market / system emerging independently from the west.

Most of all, Taiwan is a very strategic country, because of microchips production. Considering the sanctions (Apple, Intel, AMD, Samsung, Microsoft, Lenovo, Dell, probably more, are not selling in Russia anymore) Imagine the leverage that Taiwan would give to China, and the solution it would be for Russia.

I would be very surprised that Taiwan is not next. Everything is pushing in that direction.

Edit: As other mentioned, the outcome in Ukraine is certainly a big factor, but even if Russia fails somehow, I'm not sure that it wouldn't even make it more important for China to get Taiwan...