Chinese official media and several major chinese defence websites confirmed days ago that China is in the process of developing a stealth strategic bomber - Named as"Red B2".
Alongwith the successful development of Y-20, China has accumulated all the in-house technologies, including engines, for Red B2. The finance is not a problem and the timing is ripe.
The consensus on the mil fora seems to be that it would be slightly smaller than B2, aiming mainly to cover Guan, Hawaii to the East (or the US East Coast in case it's a bigger version), Darwin(AUS) in the South, Diego Garcia / entire India in the S West, Western Asia/Eastern Africa in the West.
Now its time to wait and see which will have its maiden flight first this time, PAKDA or China's "Red B2".