The problem is, the settlement Russia want is to effectively absorb some of Ukraine, and that's not better for any Ukranian in those areas. The war carrying on isn't good either of course, but Ukraine may prefer to fight that, than give up, like they have been doing.
China just want it over, and want to pretend to be impartial, and they would happily see Ukraine give up some land to achieve that. Ultimately this isn't being impartial though, it's supporting the aggressor, and the West has had enough of it.
The only settlement should be Russians go back into Russia, China won't try and negotiate that, as it will **** off Russia and they need Russia sort of in their good books, so they have another potential ally against the West.
edit - sorry didn't realise that post was form a couple of weeks ago, but the points are still the same.