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They have Taiwan and US and Japan( probably sk) to deal with.I stopped taking Chinese seriously when they agreed to the ceasefire and went back last year. If you don’t have the courage to fight a war at a time when IAF is at its weakest and you have a 5 times larger economy than us, you are never going to achieve anything against us.
Their current strategy is to not have any conflict or war with India but also try to subtly make india compromise somewhat through power play and bullying, which didn't happen as we didn't budge
That's why chinese now want to maintain peace again and went back to previous status quo.
But chances of another conflict that can turn into wat while quite low still exist.
And if in future china gets Taiwan peacufully,as in US decided it's not worth it
then we will ge next on its target list.