what will China do if the U.S. or North Korea launch first strike?

ISR comment: While the U.S. and North Korea increased their threats to one another, China moved to make its position clear. Although the views of this news outlet are not direct official government declarations, reports nonetheless represent China's inclination made public before issuing policy statements. The Global Times outlined China's position as follows:
 

Beijing is not able to persuade Washington or Pyongyang to back down at this time. It needs to make clear its stance to all sides and make them understand that when their actions jeopardize China's interests, China will respond with a firm hand.

China should also make clear that if North Korea launches missiles that threaten US soil first and the US retaliates, China will stay neutral. If the US and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so.