The speech published by China's mission to UN in Chinese.
English version can be found through UN.org
In the speech, China acknowledged the diplomatic effort by Russia with France and Germany. China believe that European countries will make independent strategic decisions that serves their own interests.
China believe that every event has a reason. NATO expansion is a cause to the current Ukraine problem that can not be overlooked. NATO's expansion after the cold war is against the desire of common security. No country can build their security on the cost of others. Security must not be build by enhancing and expansion of military alliance. Some country does something and say something else etc. etc. etc.
The words that China said saying without saying are:
- Europe (other than Russia) is not independent yet.
- Europe (other than Russia) is not serving their own interests.
- NATO expansion is the cause, and must stop.
- NATO is the devil against peace.
- USA is the root cause of the whole thing, in Europe and beyond.