Compiled from a report by China Daily on March 13.
China is quietly transforming its abundant electricity and computing capacity into a new form of global trade: AI “tokens.” These tiny digital units — the currency of large AI models — are emerging as one of the most efficient value-added exports from the world’s second-largest economy, creating both opportunities and strategic advantages for international investors.
In February 2026, Chinese AI models processed 4.12 trillion tokens on the global aggregator platform Open-Router, surpassing the US total of 2.94 trillion. Leading Chinese developers, including MiniMax and DeepSeek, now occupy four of the platform’s top five positions, largely driven by US users.
This rapid rise is not merely a function of low electricity costs. Experts highlight a triad of advantages:
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Energy Cost Efficiency – China’s surplus green energy, particularly from the ultrahigh-voltage western grid, allows large-scale AI computation at fraction-of-global-market prices.
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Advanced AI Technical Capabilities – Chinese models increasingly adopt Mixture-of-Experts (MoE) architectures, which activate only the necessary neural pathways for each query, drastically reducing computational power and electricity per token.
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Integrated Supply Chain and Infrastructure – National coordination of electricity and AI computing ensures seamless energy-to-computation synergy, positioning China as a leader in large-scale, low-cost AI output.
According to Qiu Zeyu, deputy partner at Roland Berger, the alignment of computing power and electricity into national policy demonstrates that China is deliberately building a strategic moat for its digital economy, turning what was once a domestic advantage into a globally exportable asset.
Industry observers note that the economic impact is profound: converting electricity into AI tokens yields an estimated 22-fold increase in value compared to exporting raw power. For investors, this signals a new layer of digital value creation, where energy-intensive industries intersect with high-tech AI deployment.
However, analysts also caution about risks. While China’s token exports give it a structural cost advantage, geopolitical tensions and data security considerations could affect market access abroad. Morgan Stanley’s chief China economist, Xing Ziqiang, points to the experience of Chinese 5G equipment makers, which faced international restrictions despite competitive technology.
From an investor’s perspective, China’s token economy represents emerging opportunities in digital infrastructure, AI services, and cross-border cloud computing markets. Companies integrating Chinese AI services can achieve lower costs and faster computation times, while investors can consider exposure to AI compute hardware, energy-optimized data centers, and token-based service platforms.
Looking ahead, China’s government has explicitly included computing-electricity synergy as a national priority in the 2026 Government Work Report. As the global AI industry expands, Chinese “token exports” are likely to remain a key driver of international competitiveness and a model for value-added digital trade.
Investment Takeaways:
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Strategic edge: Chinese AI token exports convert low-cost electricity into globally valuable computation.
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Sector focus: Data center operators, AI platforms, cloud infrastructure, and GPU suppliers stand to benefit.
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Risks: Geopolitical barriers and data security issues could limit international market penetration.
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Outlook: With continued government support, token-driven digital trade will likely expand, underpinning China’s role in the global AI ecosystem.