With Washington and Tehran signing a memorandum of understanding Wednesday to end (or at least start the process of ending) nearly four months of war, much of the debate has centered on whether the agreement grants Iran more than President Donald Trump once appeared willing to tolerate after demanding the Islamic Republic's "unconditional surrender."

But there may be another winner from the conflict, one that never fired a shot: China.

Beijing condemned the war from the outset, denounced the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and other senior officials in the opening U.S.-Israeli strikes, and consistently backed a negotiated settlement. Now, as the U.S. and Iran work toward a fragile peace, analysts say China has emerged from the conflict with several important strategic gains.

Stable Power

China has spent years trying to present itself as a responsible major power that respects sovereignty, favors dialogue, and avoids military adventurism abroad. The Iran war gave Beijing an opportunity to reinforce that message.

Chinese Foreign Minister Wang Yi held repeated talks with Iranian diplomats during the conflict, while Beijing repeatedly voiced support for Pakistan's efforts to mediate negotiations. Iranian Deputy Foreign Minister Kazem Gharibabadi also held talks with senior Chinese diplomats in the final days before the ceasefire framework took shape.

Following the signing of the memorandum, Abbas Araghchi, Minister of Foreign Affairs of Iran, publicly thanked China for what he described as its constructive role in helping promote negotiations.

Chinese officials have eagerly contrasted that diplomacy with what they portray as a reckless U.S.-Israeli military campaign that plunged global energy markets into turmoil and pushed the region toward a wider war.

"The U.S. attacks on Iran with Israel really set an unprecedentedly bad example and dismantled 80 years of the world order," Henry Wang, president of the Beijing-based Center for China and Globalization, told Newsweek.

The argument is aimed particularly at countries in the Global South, where many governments viewed the conflict skeptically and where Beijing has spent years building influence.

The war also strained relations with U.S. allies in European and the Gulf region.

Support among U.S. partners was uneven throughout the conflict. European governments already frustrated by trade disputes and tariffs were reluctant to become deeply involved, while several allies openly questioned aspects of the campaign and its economic consequences.

"Open divergences between Washington and its partners over the war's legitimacy, execution, and fallout have exposed fissures that risk metastasizing to other issue areas over time," Ryan Hass, director of the Brookings Institution's China Center, wrote in a June analysis. "For China, these fissures offer comfort."

Propaganda Windfall

The war also gave Beijing fresh material for a message it has long directed at audiences across Asia: the U.S. is an unreliable and increasingly unpredictable partner.

"We're seeing the consequences of the damage Trump statements and policies have done in the withholding of support right now by countries justifiably angry that U.S. choices are imposing costs and danger on them," Kori Schake, senior fellow and director of foreign and defense policy studies at the American Enterprise Institute, told Newsweek.

"We look just as ruthless but less predictable or strategically competent than China."

"China also will relish the visible reminder of America's difficulties in securing strategic objectives in Iran," Hass wrote.

For Chinese officials, the conflict offers a ready-made talking point. If the United States struggled for months to secure a decisive outcome against regional power like Iran despite overwhelming military superiority, Beijing can now ask whether Washington would be willing—or able—to sustain a far larger conflict closer to China's shores.

The conflict also reinforced Chinese arguments that U.S. military interventions often leave instability in their wake while imposing costs on allies that had little say in the decision-making process.

This is particularly true of Taiwan, the self-ruled island China claims as its territory and vows must be brought into the fold, through force if necessary. China has in recent years not only stepped up military pressure on Taiwan but also a propaganda campaign aimed at demoralizing Taiwanese society and convincing them there is no better option but to unify with the mainland.

Newsweek reached out to the Chinese embassy in the U.S., and the Taiwanese Foreign Ministry by email with requests for comment.

Energy—Shock and Resilience

The conflict also tested one of China's biggest vulnerabilities.

The country sources roughly 40 percent of its crude oil and about one-third of its liquefied natural gas from the Middle East. When the Strait of Hormuz effectively closed and shipping ground to a near standstill, many analysts warned Beijing could face severe economic disruption.

Instead, China largely weathered the shock.

Crude imports fell sharply during the conflict, dropping to their lowest levels in years. Yet Beijing was able to cushion the impact through strategic petroleum reserves estimated at roughly 1.2 billion barrels, lower refinery throughput, and years of efforts to diversify supply routes and reduce dependence on imported fossil fuels.

While countries including Japan and South Korea were forced to draw on emergency reserves, China faced less pressure to take drastic measures.

That resilience also gave Beijing room to pursue energy diplomacy while other countries scrambled to secure supplies. Chinese refiners increased exports of products including jet fuel and diesel to regional markets, helping ease shortages in energy-stressed economies, including U.S. partners such as the Philippines.

Analysts say the episode provided Beijing an opportunity to build goodwill and expand influence at a moment when many countries were searching for reliable suppliers.

The crisis also vindicated Beijing's push into electric vehicles, batteries, solar panels, and other clean-energy technologies.

Higher oil prices improved the economics of electrification globally, benefiting Chinese manufacturers that already dominate international EV markets. Chinese vehicle exports surged during the conflict as consumers and governments sought alternatives to volatile fuel markets.