The Jiaolai Basin, situated in the northern Sulu orogenic belt along East Aisa continental margin, preserves evidence of the extensional events in East Asia and the post‐orogenic evolution of the Sulu orogenic belt during the Cretaceous period. In this study, multiple provenance analyses were employed to reconstruct the source‐to‐sink system of the Laiyang Group within the Jiaolai Basin. These studies reveal a history of northward expansion dictated by two significant rift events. During the early Early Cretaceous period (ca. 135–121 Ma), the Zhucheng and Gaomi sags in southern region developed initially. Subsequently, in the late Early Cretaceous period (ca. 120–113 Ma), the Laiyang sag in northern region emerged. Furthermore, these sags were fed by independent source‐to‐sink systems in their early stages but eventually shared a similar source‐to‐sink system towards the end of the Laiyang Group deposition (ca. 113 Ma). The provenance analysis results indicate that ca. 121 Ma, ultrahigh‐pressure rocks in the northern segment of the Sulu orogenic belt experienced rapid exhumation, while those in the southern segment might have remained concealed until ca. 113 Ma. The two rift events in East Asia, coupled with the alteration in the direction and magnitude of extension documented in the Jiaolai Basin, suggests that trench retreat and the change in subduction direction from E–W to NW–SE of the Izanagi plate played a principal role in driving the extensional events in East Asia during the Early Cretaceous. Our findings imply that the change in Izanagi subduction direction may have occurred ca. 121 Ma.