In an official editorial, China has admitted that it will do nothing to stop North Korea from using missiles to attack the US territory of Guam.
Beijing is not able to persuade Washington or Pyongyang to back down at this time. It needs to make clear its stance to all sides and make them understand that when their actions jeopardize China’s interests, China will respond with a firm hand.
China should also make clear that if North Korea launches missiles that threaten US soil first and the US retaliates, China will stay neutral. If the US and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so.
In other words, China will not stop North Korea from carrying out its attacks, but if it does so China will also not do anything if the U.S. responds.
The editorial is intellectually dishonest however. It also states,
The real danger is that such a reckless game may lead to miscalculations and a strategic “war.” That is to say, neither Washington nor Pyongyang really wants war, but a war could break out anyway as they do not have the experience of putting such an extreme game under control. [emphasis mine]
The highlighted words are simply wrong. It has been very clear now for several years that North Korea is eager for war, and has been doing everything it can to instigate a conflict.