China, the world's largest buyer of Iranian oil, last year got 13.4% of its total oil imported by sea from the country. That makes it uniquely exposed to any supply disruption as the conflict unfolds, particularly in the event of a blockage of the Strait of Hormuz, the world's most vital oil export route.
While China can diversify its imports, it would suffer significant price pressure from a near-term loss of Iranian oil, tightening margins for its manufacturing base on which the Chinese economy is heavily reliant, analysts say.
The U.S. attack on Iran also serves as a reminder to Beijing - and its partners - of the U.S. military's ability to strike not only in its backyard, but around the world.
"The strikes on Iran and the potential regime change will severely impact China's interests," said Zhao Minghao, international relations expert at Shanghai's Fudan University.
"China is assessing the deeper intentions behind U.S. actions in Venezuela and Iran, as the U.S. may increase pressure on China by controlling the international energy market," Zhao said.