China invested heavily in CPEC which they regarded as a dream project and a way to revive the ancient Silk Route has already taken a hit, and countries part of it are under the trap of Chinese debt or have defaulted.
End of US hegemony
Russia's invasion of Ukraine policy in the Eastern Europe region, China's growing influence on the global level & the same time capitol attack, and...
India and China's support of Russia in the Ukraine crisis and maintenance of strong relations are aimed at gaining 'strategic leverage' at the global level.