On May 22, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Data Bureau, chaired a symposium on the Token economy. Representatives from enterprises such as Alibaba Cloud, Tencent, Moonlight AI, Haitian Ruisheng, and China International Capital Corporation, along with experts from organizations like China Economic Times, Xi Jinping Economic Thought Research Center, China University of Political Science and Law, Renmin University of China, and Tsinghua University attended the meeting to offer suggestions on “promoting the healthy and sustainable development of the Token economy while fully unlocking the value of data as a key production factor.” At this meeting, the National Data Bureau explicitly stated for the first time that fostering the development of the Token economy would be incorporated into its work agenda.
The National Data Bureau also clarified the role of Tokens: they serve as the smallest computational units utilized by large models when processing text, code, images, audio, video, and other types of information, gradually emerging as measurement, settlement, and statistical units for AI services. Accordingly, the Bureau plans to focus on building high-quality industry-specific datasets and a nationwide integrated computing power network to further advance market-oriented allocation reforms for data factors and drive high-quality growth in the Token economy. It also pledged to continuously monitor developments and incorporate input from all sectors of society.