New report: China’s Token Economy, 2026 Edition

A new report examines China’s rapidly growing token economy in 2026, arguing that each actor defines token usage to fit its management needs, with official daily figures reaching hundreds of trillions. The author highlights discrepancies in national figures, the integration of token consumption into credit signals in Guangzhou, and divergent run rates reported by state carriers and AI model developers. Additionally, the report outlines challenges in tracking API calls across borders amid varying regulatory notices. Open article →