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Sino-Russian relations evidently present a puzzle or quandary to foreign observers. In the wake of Russia’s aggression against Ukraine, China has opted decisively to offer Russia limited but substantial political and informational support. But it has continued joint drills and exercises with Russia. The argument presented here states initial that despite an equivocation, these actions reveal that this relationship amounts to a de facto alliance of the two governments. The article begins with an analysis of China’s reaction to the war in Ukraine, proceeds to discuss the issue of the nature of this relationship and the view that it is an alliance, and then proceeds to discuss the benefits of this alliance to both sides in regard to their defense industrial sectors and for China in regard to Taiwan.