Invading Taiwan any time soon would be very messy, and fraught with perils galore, and gain China rather little short term. Meanwhile they create islands in the South China Sea and fortify them as prelude for economic development (oil probably and other things). They can "invest" in Africa for the same reasons and gradually develop a Sphere of Influence for their Own Prosperity. They COULD also delve into making a ton of consumer goods for the massive US market and run a huge balance of trade surplus with us, that too would be very clever, and it might even happen someday.
Probably not, we can make our own toys.