After an unexpected U-turn in the form of a "political stunt" by the European Union arriving at the end of the conference, an agreement was finally found with developing countries on a fund for loss and damage.
Also, as China is already the second-largest absolute emitter of greenhouse gases in history, it would make sense for the country to contribute to L&D financing at some point. Nevertheless, China does not want to. Indeed, a Chinese contribution would open Pandora's box to discuss its position as a developing country in the Paris Agreement regime. The AOSIS position has been a very contentious issue within the G77 - the main coordination platform of developing countries gathering 134 nations - which sticks to the 1992 Rio Summit definition that considers China, and other large emitters like Saudi Arabia, as any other developing country.