Chinese premier's speech carves out new path for China-US relations: expert

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

U.S. President Donald Trump said Tuesday he will extend the two-week ceasefire with Iran that was set to expire on Wednesday night (midnight GMT Tuesday).

"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump wrote on Truth Social.

The U.S. president said he will "extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."

The U.S. military will continue the blockade against Iran and "remain ready and able," according to Trump.

Iranian Foreign Minister Seyed Abbas Araghchi said in a post on X Tuesday that the U.S. blockade of Iranian ports is "an act of war and thus a violation of the ceasefire" and attacking Iranian merchant ships and detaining their crew members were even more serious violations.

"Iran knows how to neutralize restrictions, how to defend its interests, and how to resist bullying," Araghchi wrote in his post.

Mehdi Mohammadi, an advisor to Iran's parliament speaker Mohammad Bagher Ghalibaf, also said the U.S. blockade must be met with a military response, dismissing Trump's ceasefire extension announcement as "meaningless".

"Extending the ceasefire by Trump has no meaning. The losing side cannot dictate terms. Continuing the blockade is no different from bombing and must be met with a military response. Moreover, any extension of the ceasefire by Trump is certainly a way to buy time for a surprise attack. Now is the time for Iran to take the initiative," Mohammadi posted on X.

Trump extends ceasefire; Iran vows military response to naval blockade