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Shares of the country’s leading telecom companies continued to rise for a second consecutive day after they introduced trial commercial token plans, joining their industry peers in exploring new monetization avenues for artificial intelligence computing power. This shift aims to capitalize on the rapidly expanding token services market.
The company’s stock in Shanghai surged 4.4%, closing at CNY7.12 ($1.05) per share, after a 7.7% increase the previous day. In Hong Kong, its listed stock gained 0.7%, ending at HKD5.68 (approximately 73 US cents), following a 6% jump yesterday.
The trial token initiatives are tailored by user segment. For developers and small to micro businesses, three monthly packages are available at CNY39.90, CNY159.90, and CNY299.90 (roughly $5.87, $23.50, and $44.10), providing token allowances of 15 million, 70 million, and 150 million, respectively. For individual consumers and households, monthly plans start at CNY9.90 and offer a minimum of 10 million tokens.
A couple of days prior, a local branch of another major telecom operator in Shanghai introduced a pay-as-you-go option priced at CNY1 for every 250,000 tokens, supporting over 30 prominent large-language models.
Meanwhile, the Shanghai branch of a different telecom company began offering token services to local sole proprietors starting May 16, which includes a complimentary trial quota of 30 million tokens valid through the end of next month. Additionally, a neighboring region’s telecom provider launched AI computing packages last month that feature token and coding plans.
Since last month, subsidiaries of another major telecom provider in several provinces, including Jiangsu, Guangdong, and Shandong, along with Beijing, have started promoting token plans. One such plan in Beijing allows for a one-time purchase starting at CNY5.99.
Industry experts note that telecom operators have long sought new growth drivers. With AI infrastructure powering many large language models and AI systems, these companies now have the opportunity to monetize their capacity through proprietary channels—generating revenue while attracting more users to their data centers, thus creating a self-sustaining commercial ecosystem.
The move into token plans is expected to make AI computing resources more accessible and affordable for everyday users. However, industry analysts caution that revenue from tokens remains modest and likely insufficient to sustain long-term growth. The logical next step will involve developing innovative, practical AI applications that leverage both computational power and connectivity—services that could solidify the telecom industry’s unique advantages.
The term “token” was officially standardized as “词元” (cí yuán) during the China Development Forum this March by Liu Liehong, head of the National Data Administration. It’s defined as the smallest unit of information processed by a large language model.
By March, China had seen an average daily token usage surpassing 140 trillion, more than a thousand times the level at the start of 2024, according to the agency. Industry standards suggest that roughly 1,000 tokens are equivalent to 500 to 700 Chinese characters.
Shares of other leading telecom companies also posted gains. The Shanghai-listed stock of China Mobile increased by 0.7%, closing at CNY101, after rising 2.4% the previous day. Its Hong Kong listing rose 0.5% to HKD86.80 (about $11.08), following a 0.2% increase yesterday. China Unicom’s stock in Shanghai closed up 0.6% at CNY4.95 today, following a 5.6% rise yesterday.
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