This could hurt the U.S Anti-China strategy really bad, in the eyes of the U.S China is still its biggest threat but for the Europeans they are gonna view Russia as an even bigger threat. The Europeans could try to divide the Russia-China friendship to by trying courting China with less export controls and better economic ties, nightmare fuel for the U.S.
Like someone posted before there is a possibility the Russia could make things difficult for the U.S. in the Middle East, i don't think the Russians now care if Iran gets the bomb, in fact it could be convenient for them for Iran to get the bomb.
Its also can make things difficult for the U.S in the pacific, by selling game changing weapons to China, for that reason i think Japan, SK, Singapore and most of Asia will reestablish normal economic relations with Russia in the short term. especially Japan who is really fearful of seeing China getting new weapons.
It could make China alternative financial system more appealing, a lot of countries still have ties with Russia, by example Bolsonaro didn't even condemn the invasion "is the fight between two brothers" so is possible that they could use China as link to that country bypassing the West financial system. That will give a boost to China financial system.
Nothing is for sure, but what is sure is that the Chinese leadership are studying this events really really carefully, they are taking notes on everything and they try will to find every single weakness.