Whoever in the leadership of CPC or PLA military who ordered this oil rig circus should be executed for the reason of complete retardation at best, if not of traison!
It has 0 strategic or tactic value, but huge negative impact instead since it pushes Vietnam towards "Asia Pivot". The best and the easiest strategy to deal with Vietnam is using economics. The solution should be aimed at mid term. A conflict with Vietnam is NOT in China's best interests at all for the forsseeable future.
However, Vietnam's leadership should not get too excited, cuz Vietnam is actually about 2-step away from becoming a full-blown "Ukraine" if it dreams in any way to play with fire using the regional inlfuence of the US to counter China. If that were the case, NOT the Chinese, NOT Americans, but the average Vietname citizens and Vietnam Communist Party, just like average Urkainians, will end up paying the dearest price of the game.
That said, Philippines however, is a complete ball game being an existing part of "Asia Pivot" and "1st island chain", unlike Vietnam. Despite of some pretty military pact just signed with the US, Philipines actually should be the ONLY, THE MOST URGENT tartget of PLA.
Taking back all those Phillipine-invaded islets in SCS all at once is well-within PLA Navy's capablity, and should be PLA's only and most urgent task, in my view. It is a free lunch. It is also morally sound due to Phillipine's recent provocations. The timing is also perfect. If China takes this easy step instead of useless water cannon shows with Vietnam, China can settle both "Asia Pivot" and SCS issue (at least for the mid term) in one go. Forget about the US in the process, it will NOT touch a thing of PLA.
If Vietnam is in danger of becoming a self-made "Ukraine" by its blind and pointless "nationalism" , then Philippines is in fact already a self-made "Georgia" waiting to be fcuked, can't you see?