Some analysts have likened the relationship to the tale of "Goldilocks" in which a middle ground is sought, with China wanting its ally Russia to not be either too strong, where it could challenge Beijing, nor too weak where it leaves China ideologically isolated against the West.
It could also be seen to embolden the West and cause political instability in Russia, essentially China's backyard.
"China, like many Europeans, will also want to avoid a total collapse of Russia, with the nuclear proliferation risks that might pose.
China is seen by international observers as being one of the few countries that could exert its influence on Russia in bringing about an end to the war in Ukraine.
"There is no way actually for China to make Russia stronger without jeopardizing Chinese interests," he told CNBC.
Persons:
Xi Jinping, Vladimir Putin, Alexei Druzhinin, Etienne Soula, Soula, Xie Huanchi
Organizations:
AFP, Getty, U.S ., Beijing, Alliance, Democracy, German Marshall Fund of, CNBC, Russia, Xinhua News Agency, Research
Locations:
Russia, U.S, Beijing, Moscow, Ukraine, China, United States, Asia, Kyiv