A poster below (I can't recall who) recently made the assertion that China as a member of UNSC, was likely to veto the Palestinian bid for statehood, at the time I thought this assertion wasn't likely to be correct as I tend to follow quite a bit of international coverage of such stories but failed to counter it at that time. Just for the sake of accuracy in these matters here is an article (from a what 'I think is a Chinese news source in English) which shows that to be so:

http://news.xinhuanet.com/english2010/world/2011-09/27/c_131161229.htm

"China backs Palestine's UN membership

UNITED NATIONS, Sept. 26 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Monday voiced China's support to the Palestinian UN membership and the efforts to achieve the "two-state solution" through political negotiation.

Yang made the statement as he was speaking at the general debate of the 66th session of the General Assembly.

"China consistently supports the just cause of establishing an independent Palestinian state and supports Palestine's membership in the United Nations," he said.

"We support efforts to achieve the 'two-state solution' through political negotiation so as to establish, on the basis of the 1967 borders, an independent Palestinian state that enjoys full sovereignty with East Jerusalem as its capital," said the foreign minister.

The "two-state solution," extensively supported by the international community, means an independent Palestinian state to live in peace with a secure Israel.

"We believe that progress should be made in parallel in the peace talks between Syria and Israel and between Lebanon and Israel with a view to eventually achieving comprehensive, just and durable peace in the Middle East and peaceful coexistence between the Arab countries and Israel," Yang said.

"We hope that the international community and parties concerned will make unremitting efforts toward this end and sustain the Middle East peace process," he said."