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Wei Liang, Vice President of the China Academy of Information and Communications Technology, highlighted that China’s average daily Token calls experienced an extraordinary surge—from around 100 billion in early 2024 to a staggering 140 trillion by the end of March 2026, representing an increase exceeding a thousandfold. Tokens, as a fundamental unit for large-scale models to process information and calculate call costs, serve as a barometer for industry development. The emergence of agents has given rise to the “Token economy,” in which user instructions initiate multiple rounds of model calls, triggering a dramatic spike in computing power demand. As agents are increasingly adopted on a large scale, new frameworks centered on Token measurement, scheduling, pricing, and trading are taking shape.
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