Deep Tide TechFlow News: On March 23, according to Shanghai Securities News reports, Liu Liehong, director of the National Data Administration, stated at the China Development Forum 2026 Annual Conference on March 23 that China's daily average Token call volume has exceeded 1.4 quadrillion in March this year, representing growth of over 1,000 times compared to 100 billion at the beginning of 2024.

Liu Liehong pointed out that Token is the smallest unit for large models to process information, possessing characteristics of measurability, pricing, and tradeability. Surrounding Token calls, distribution, and settlement, a new value system is rapidly forming, becoming an important pathway for monetization in the artificial intelligence industry. He also stated that with the in-depth advancement of China's data elements market-oriented allocation reform, a virtuous cycle of "data supply—value release" is beginning to emerge.