The Russia-Ukraine war has been attracting global media attention. In China, a country that has good relations with both Russia and Ukraine, how did Chinese media outlets report this war? How were did national and market interests of China reflected by Chinese media through war news? Using van Gorp’s framework wrapping analysis method, this study explored how two Chinese online media outlets, People’s Daily (Renmin ribao) and The Paper (Pengpai xinwen), represented the Russian-Ukrainian war in their reports. Both quantitative and qualitative data were analyzed. The study found that in the reports by the two media outlets, one run by the party and the other market-oriented, there were differences in forms of report, sources of information, reporting themes, and content frameworks. However, consisting with China’s official position, their reporting stances were both neutral without biasing towards either Russia or Ukraine. The study also found that, among the four commonly-seen thematic frameworks, the conflict framework was most frequently used by the two media outlets. The other frameworks include the responsibility attribution framework, the economic impact framework, and the ethical framework. After combined analysis of framing devices, reasoning devices, and underlying cultural backgrounds of the war news, the study also found that, by reporting the news of the Russian-Ukrainian War, the Chinese media outlets attempted to strengthen the anti-American and anti-Western discourses and played the role of nationalist cheerleaders.