Most of the simulations for a naval war around Taiwan predict that it would be over in a few days, maybe weeks, but not long enough to really draw down those reserves.
Most importantly, it's really not realistic that the US Navy could prevent the rest of planet Earth from providing goods to the world's largest trading nation. Our navy isn't big enough, for one thing, but the economic damage to every other country that imports into China makes this blockade idea pretty unrealistic. I can't even imagine how much inflation would spike when the world's factory can't export for a few weeks
China has a border with Russia, and gigantic strategic oil reserves. They are not going to run out of oil. Maybe ration it initially, until enough can be delivered from Russia.
China can't feed itself.
China only produces a third of the oil it consumes.
If your people begin to starve as soon as war starts and you all of a sudden have 1/3rd the oil you used to.... well, that's not exactly a recipe for success.