Chinese Premier Li Qiang's speech at this year's China Development Forum is set to carve out a new path for the development of China-U.S. relations, said Stephen Orlins, president of the National Committee on U.S.-China Relations.
The China Development Forum 2025 kicked off in Beijing on Sunday, with Premier Li delivering a keynote speech at the opening ceremony.
In the speech, Li talked about bold moves of boosting Chinese spending to shrink trade surpluses.
Orlins said this could unlock a historic reset: more U.S. exports to China, fewer deficits, and a pragmatic path to stabilize global growth.
"The (Chinese) premier demonstrated that the Chinese leadership knows what to do in terms of improving the Chinese economy. I think some of the suggestions that he had in the speech were very imaginative. For instance, the very long-term bond that he said he would do. I think he said 400 billion RMB (about 55.18 billion U.S. dollars) issuing of that, and that would be used to enhance consumer spending," he said.
"To the extent that consumer spending increases, we will see a drop in China's export surplus, which is a good thing for U.S.-China relations. So I listened to his speech and I said, hey, this is probably good for U.S.-China relations, because the extent that the Chinese economy improves, U.S. exports to China can improve. That can reduce the U.S.-China trade in the case of U.S. deficit, in the case of China surplus, and that will lead to improved U.S.-China relations," said Orlins.
Themed "Unleashing Development Momentum for Stable Growth of Global Economy", the forum features 12 symposiums and several closed-door sessions.
The participants will explore key issues including the development of new quality productive forces, AI innovations, green development, and new trends in economic globalization.
The forum, sponsored by the Development Research Center of the State Council and organized by the China Development Research Foundation, has become a key platform for dialog and cooperation between China and the rest of the world since its inception in 2000.
Chinese premier's speech carves out new path for China-US relations: expert
A military expert said that the latest live-fire exercises around Taiwan Island, code-named "Justice Mission 2025," are marked by immediate engagement in live-fire drills, a multidimensional blockade strategy, and unified control over Taiwan and surrounding waters.
In an interview with China Central Television (CCTV), Meng Xiangqing, a professor at the National Defense University of the People's Liberation Army (PLA), outlined four significant highlights of the ongoing drills, which began on Monday.
"The most striking highlight is the immediate engagement in live-fire drills from the outset. In previous exercises, while we conducted live-fire drills, there were times when such drills were absent, which was normal depending on varying exercise requirements. In this exercise, our military, including Army, Navy, Air Force and Rocket Force troops, rapidly deployed capabilities around Taiwan's northern, southeastern, and eastern areas, followed by live-fire exercises. Our artillery featured simulated strikes on moving targets at sea and on land. This is a significant highlight, showcasing our troops' readiness for battle at all times, their capability for combat at all times, and their assurance of victory, and their capability to seamlessly transition from training to combat," he said.
"The second highlight, which is also a central theme of this exercise, is the multidimensional blockade and control strategy. All branches of our military, including the Coast Guard, implemented multidimensional blockade and control measures at crucial ports and regions of Taiwan. According to the latest updates from the Eastern Theater Command this morning, these measures continue be to a vital part of today's exercises. For instance, the designation of two areas in northern Taiwan aims to execute control around the important Keelung Port, while in the southeast, the blockade targets Kaohsiung and the Zuoying maritime and airspace routes, effectively cutting off key ports, areas and military bases critical to Taiwan separatist forces, thereby establishing a 'closing the door to beat the dog' strategy," Meng said.
"The third highlight is that, from yesterday to today, the Fujian Coast Guard has engaged in law enforcement operation near Taiwan Island and surrounding waters, including attached islets, establishing unified control over these areas. This represents a new breakthrough. I particularly noticed that the areas under control have expanded, according to several pieces of information released by the Coast Guard yesterday, including a poster depicting the extent of our multidimensional control yesterday. Under one-China principle, this reaffirms China's sovereignty and security while underscoring the inviolability of our territory," he said.
"The fourth highlight is the demonstration of coordinated operations among the various units participating in the exercises. This included maritime assaults, ground strikes, air defense and anti-submarine operations, validating the strong combat capabilities of our military," the expert added.
Military expert shares key highlights of PLA live-fire drills
