The Chinese Peace Plan has zero chance of being adopted. It totally favours Russia, and basically hands 1/5 of the Ukraine to Russia. The Chinese Peace Plan is considewred laughable by everyone accept Xi and Putin.
Russia can give enormous support to a a Chinese invasion of Taiwan as they have the Pacific Fleet based not too far away, that is, near the conflict zone. When that Fleet starts moving south in the near future, we know that Putin has agreed to assist Xi.
When China invades Taiwan, the best thing that can happen for Xi is that Putin agrees now to standbye him in the Pacific. If he does, Xi will act sooner.
Your two points are both missing in action. Maybe you should do some research befoe you take to the airwaves.