The Ukraine crisis, as one of the turning points of the international order, has transformed China into a pivotal actor in the interaction pattern of major powers, as it is the sole actor capable of acting as a mediator and a "bridge" between the two sides of the conflict while simultaneously safeguarding its geoeconomic interests. Crisis analysis reveals that Russia interprets its attack on Ukraine within a defensive discursive framework and as a reaction to NATO expansion, viewing it as an effort to prevent marginalization in the emerging new order between the United States and China. However, the severity of sanctions, inadequate estimation of Ukraine's resistance, and the level of NATO cohesion have flawed Russia's calculations, exacerbating consequences such as a blow to its prestige, economic pressure, and domestic complexities. On the other side, the West has attempted—through psychological information warfare, media narrative-building, and the leverage of sanctions—to draw Russia into a war of attrition while simultaneously weakening the strategic bond between Russia and China. China's stance is characterized as "cautious alignment": limited political support for Russia coupled with an emphasis on Ukraine's territorial integrity and the avoidance of sanction costs. China finds itself at a crossroad between national interests and international responsibility, and by maintaining a distance from Russia, it will likely leverage the geopolitical and geoeconomic opportunities of the crisis to enhance its standing.