[China’s demand for tokens shows explosive growth, and consumption is expected to reach 1 billion in 2026] On September 12, China Telecom Research Institute released the "Research Report on AI Infrastructure Development in the Age of Agents (2026)", which showed that as the focus of the development of the artificial intelligence industry shifts from large models and computing power competition to the implementation of large-scale intelligent agents and application monetization, the demand for Chinese tokens has shown explosive growth. Rao Shaoyang, director of the Institute of Industry and Corporate Strategy of the China Telecommunications Research Institute, said that the annual consumption of tokens in China is expected to reach 1 billion in 2026, and will exceed 350 billion by 2030, with a compound annual growth rate of nearly 12 times. Rao Shaoyang said that from the perspective of computing power demand, the explosion of intelligence will drive China's computing power demand to continue to grow rapidly. It is expected that in the next 2 to 3 years, China's computing power demand will increase by nearly 10 times on average every year. From the perspective of demand structure, the demand for inference computing power will far exceed that of training computing power. It is expected that China’s inference computing power market share will reach 80% in 2029. (CCTV News)