It's a very weird position for them to take, though.
Even if the Chinese equipment helps Russia win, this is a strategic defeat for Russia. The economic damage isn't going to go away even if they take all of Ukraine and install a puppet. And they've thoroughly cemented Ukraine's national identity as a nation of resistors, so any hope of deterring them from leaning more and more to NATO is gone. Places like Karkiv voted overwhelming against joining NATO, and now they're resisting the Russians tooth and nail. Beyond that, their army will never be viewed the same. The losses in equipment are staggering, but that's nothing compared to the lost prestige from this utterly farcical operation.
If anything, the lessons from Ukraine should be extremely sobering the Chinese. They're effectively shackled to Russia's corpse, and shouldn't expect anything from them except an extra UN security council veto. Even their aims on Taiwan should be in question. Bombarding Kyiv and Kharkiv with missiles didn't break either city or soften them for the attackers, and China's strategy for Taiwan relies heavily on missile bombardment. Neverminded their effort to invade would have to be on the scale of D-Day, and painfully obvious to everyone. And they'd be doing so with a lot of tech and tactics based off the Russian's, whose ominous display should keep some of the Chinese high command up at night.