China's token demand is experiencing explosive growth, with consumption projected to reach 100 quadrillion by 2026.

A report released by China Telecom Research Institute titled "Research Report on AI Infrastructure Development in the Era of Agents (2026)" shows that as the focus of the artificial intelligence industry shifts from competition in large models and computing power to the large-scale deployment and commercial monetization of agents, demand for tokens in China has witnessed explosive growth. The report indicates that AI is currently entering a new development stage characterized primarily by agents, which make complex AI technologies invisible and universally accessible, enabling the general public and enterprises to complete end-to-end complex tasks without mastering specialized technical skills. Rao Shaoyang, Director of the Industry and Corporate Strategy Institute at China Telecom Research Institute: "China's annual token consumption is projected to reach 10 quadrillion by 2026 and exceed 3500 quadrillion by 2030, with an annual compound growth rate approaching 12 times." (Jin10)