Some on the Dissident Right believe that if China were to replace the US as top superpower, whites and white countries would be treated worse than Chinese (obviously) but better than blacks and most other groups. This would, in theory, be an improvement over the status quo where the dominant Anglo-American-Israeli axis actively tries to fuck over whites and put the interests of almost every other group first.
Others are drawn to China's Third Position economic policies (heavy investment in infrastructure and industry, mostly nationalized financial sector, protectionism, "state capitalism," etc) or their pragmatic attitude to innate human differences (as evinced by their research on applied human genetics and embrace of standardized testing (including genetic testing) in assessing individual abilities), and apparent openness to eugenics. Futurists on the Dissident Right are sometimes drawn to the PRC's carefully cultivated image as some of technological utopia with advanced mass transit, a world-class computing industry, etc, etc (which is, of course, largely propaganda, but some people want to believe it so badly that they allow themselves to be taken in by it).
Finally, there are some who find the more positive attitudes towards whites in parts of East/Southeast Asia refreshing and just want to rationalize their appreciation for these countries within their ideological framework (because saying "I am willing to abandon my people (despite being an ethnonationalist) in order to pursue my dream of having a qt Asian gf in a high-trust, low-crime country where I don't have to deal with niggers and 'sensitivity training' at work" sounds embarassingly self-serving and hypocritical).
Overall, I think a lot of this is just copium. The PRC is not the Antichrist, but it is certainly not the "savior of the white race" either. Most of the CCP's "accomplishments" are fake or exaggerated and their current societal model still has a lot of weaknesses and instabilities.
The most Europeans can look for from China is a counterbalance to American hegemony (which could give more leverage to smaller countries like Hungary, Poland, or Greece when dealing with the US/EU) to and a lifeline for groups/governments that resist "maximum pressure" from Zionists and globohomo (Syria, Iran, and Slobodanist Serbia being recent examples).
The only real virtue of the Chicoms is that they are so pragmatic, ethnocentric and difficult to subvert that they will cut deals/alliances with pretty much anyone (if it serves their interests), regardless of how much the (((usual suspects))) might try to shame or pressure them. If they will do business and maintain diplomatic ties with Iran and North Korea, it's not unreasonable to expect that they might do the same for overtly pro-White, anti-ZOG governments.