It does seem that Beijing is not sitting on this question passively. From Reuters last night: “China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz ​as the U.S.-Israeli war on Tehran intensifies, three diplomatic sources told Reuters.”

However problematic it ends up being in the short term, I doubt this will have an impact on their launch activity. They’ve built up a strategic oil reserve which would last them 100 days, and anyway, too many of these payloads are too important to Beijing to justify delaying.