China is closely monitoring the escalating conflict involving Iran, the United States, and Israel, as the Middle East turmoil begins to affect its strategic and economic calculations. Although Beijing currently holds sufficient oil reserves for several months and could seek support from Russia if needed, officials are assessing the long-term consequences for China’s investments and energy security. The issue has surfaced during a major Communist Party meeting in Beijing, where delegates are already grappling with domestic economic challenges, including property market distress and high local debt.

China’s ties with Iran, while often described as close, remain largely transactional. Despite a 25-year strategic partnership agreement signed in 2021, only a fraction of the pledged $400 billion investment has materialized, though oil flows from Iran to China continue. Analysts note that China’s ability to assist partners like Iran is limited, as seen in its restrained response to recent U.S. actions in Venezuela and Iran.

Beijing has condemned the attacks and called for a ceasefire, while preparing for U.S. President Donald Trump’s upcoming visit. The meeting could clarify Washington’s stance on sensitive issues such as Taiwan and regional stability.