Major Telecom Operators Launch Token-Based Service Plans

The three major Chinese telecommunications operators have simultaneously introduced token-based service plans, raising questions about whether this move can help them break free from their traditional "pipeline" role and cultivate a second growth curve.

On May 18th, the stock prices of all three major operators rose, with CHINA TELECOM leading the surge, briefly hitting the daily limit-up and closing 7.74% higher. The catalyst was the announcement made on May 17th, World Telecommunication and Information Society Day. CHINA TELECOM officially launched a series of trial commercial token packages, offering different fee structures for individual and family customers, developers, small and medium-sized enterprises, and its token ecosystem partners. This makes it the first operator to announce such packages at the group level.

Concurrently, the Shanghai branch of CHINA MOBILE launched a general token service for public and office scenarios, enabling "one-number access, cross-platform usage, and bill payment." Prior to this, provincial branches in Guangdong, Jiangsu, and Hubei had also rolled out token services. CHINA MOBILE has not yet introduced a nationwide unified token package at the group level.

The Shanghai branch of CHINA UNICOM announced a token service for OPCs (One-Person Companies). Each customer can receive a free test quota of 30 million tokens (valid until the end of June) and enjoy a 50% discount on their first purchase of a Coding Plan (an AI programming subscription for developers) or a Token Plan (an AI large model subscription service).

Analyst reports note that operators are accelerating their transformation from traditional "pipelines" to "token economy service providers." However, some industry insiders point out that large model applications are still in their infancy. The total revenue from token packages is currently negligible for operators, and it remains to be seen whether they can become a new growth driver.

How expensive are these token packages, and what are the differences? A "token" is the smallest unit of information after data is split for efficient processing by AI large language models. Every query a user makes and every response the model generates consumes tokens. Some reports liken tokens to the "industrial oil" of the AI era.

According to data from the National Data Administration, China's average daily token consumption was approximately 100 billion in early 2024. By the end of 2025, this figure had surged to 100 trillion, and it exceeded 140 trillion in March 2026, representing growth of over a thousandfold in two years.

In terms of product attributes, token fees charged by large model vendors are typically model-specific quotas for calling their own platform's services, using a detailed pricing model that charges separately for input and output. In contrast, the tokens offered by telecom operators provide multi-model, general-purpose computing services, similar to the logic of past data and voice packages.

Regarding fees, there are significant differences among the three major operators and even among different provincial branches of the same operator.

The trial commercial token packages launched by CHINA TELECOM at the group level offer three tiers for individual and family customers: 9.9 yuan/month (10 million tokens), 29.9 yuan/month (40 million tokens), and 49.9 yuan/month (80 million tokens). For developers and SMEs, there are three tiers: 39.9 yuan/month (15 million tokens), 159.9 yuan/month (80 million tokens), and 299.9 yuan/month (150 million tokens).

CHINA MOBILE and CHINA UNICOM have primarily conducted pilot programs through their provincial branches. Many regions have launched token packages with varying fees. For instance, CHINA MOBILE Shanghai offers a general service for 1 yuan per 400,000 tokens. CHINA MOBILE Beijing offers a computing power package starting at 5.99 yuan for existing cloud PC customers, with a monthly package of 24.99 yuan for 10 million tokens. CHINA MOBILE Jiangsu has a 5-yuan trial package for 2.5 million tokens.

Besides the Shanghai branch's offering, CHINA UNICOM Hubei last month released a "computing power package." Its Token Plan offers tiers of 6 million, 12 million, and 18 million tokens. Its Coding Plan includes tiers of 18,000 and 90,000 requests. Integrated packages bundle mobile service, gigabit broadband, AI computing power, and AI cloud desktops, with prices ranging from 7.5 yuan to 359 yuan per month.

Telecom and internet analyst Ma Jihua commented frankly, "Currently, how token fees are charged and what standards are used is essentially a 'black box' for users. There's no specific standard for the consumption per call, leaving users confused. Making the charges clearer and more affordable is key to the growth of this service."

According to a report, a relevant person in charge at CHINA TELECOM Shanghai stated that pricing mainly considers cost factors and the pricing of other mainstream industry players. "The current main goal is to encourage user adoption and cultivate usage habits, similar to the strategy for data traffic in the past."

Why are telecom operators the beneficiaries? Why are telecom operators benefiting? Aren't they just "pipelines"? Ma Jihua further analyzed that for operators, traditional businesses have hit a ceiling, urgently necessitating a search for new growth curves. Artificial intelligence is the hottest field in recent years, and operators have also made significant investments, building numerous intelligent computing centers. Their computing power levels and capabilities are at the forefront, so they naturally want to find new development space through the monetization of computing power. "When a business like 'raising lobsters' emerges and tokens become sellable, operators are certainly among the first to enter."

Ma Jihua believes that traditionally, the products operators provide are mainly services, allowing other businesses to flow on the "pipeline" to generate revenue. However, tokens are essentially a form of computing power capability and can be viewed as a direct product. "Once successful, operators could indeed break free from the pipeline bottleneck and seize development opportunities."

A research report from Galaxy Securities indicates that operators possess nationwide backbone networks, abundant computing nodes, and cloud-network integration capabilities—precisely the infrastructure needed to connect dispersed computing power and schedule token circulation. They are transitioning from "traffic pipeline providers" to "computing power service providers."

The capital expenditures of the three major operators are also shifting towards computing power. In 2026, CHINA UNICOM's capital expenditure is estimated at around 50 billion yuan, with over 35% allocated to computing power business investment. CHINA TELECOM invested 20.2 billion yuan in computing infrastructure in 2025. CHINA MOBILE is accelerating the construction of its computing power network in 2026.

Furthermore, the three operators already hold nearly 50% of the IDC market share. CHINA MOBILE's total intelligent computing scale has reached 92.5 EFLOPS, CHINA TELECOM's own and accessed intelligent computing stands at 91 EFLOPS, and CHINA UNICOM's intelligent computing scale is 45 EFLOPS. Once these existing assets are revitalized by the "token economy," they can be directly converted into revenue.

Market Focus Tilts Towards Government and Enterprise Sectors China Telecom Cloud, China Mobile Cloud, and China Unicom Cloud are becoming the main channels for token monetization. Consequently, several industry professionals also stated that the primary market for tokens lies in the government and enterprise sectors.

Pan Helin, a member of the Expert Committee on Information and Communication Economy of the Ministry of Industry and Information Technology, told reporters, "The target customers of operators need not just pure computing power but also responsiveness in algorithm capabilities and software tools. For example, internet large model vendors sell algorithm models and tool implementation. The advantage of operators lies in computing power and security. Their main customers should be government and enterprise clients, especially state-owned enterprises. After all, government agencies and SOEs have needs transitioning from digital to intelligent transformation, but token services are unlikely to replace traditional businesses in the short term."

Independent telecom observer Fu Liang also stated that operators will capture a portion of the government and enterprise market share. "For example, sensitive departments and enterprises. In the consumer market, operators find it difficult to compete with internet companies as their strategies are not flexible enough."

Ma Jihua believes that operators have accumulated years of experience and resources in package services, mastering a complete set of logic for promotion and application. They also have a workforce of millions nationwide who can help users with installation and setup, giving them a certain advantage in marketing and service.

It is worth noting that "computing power" is already generating actual revenue for operators. For instance, for CHINA MOBILE, which treats computing power services as an important growth driver, computing service revenue grew rapidly to 89.8 billion yuan in 2025, a year-on-year increase of 11.1%. Computing services and intelligent services accounted for 20.2% of its main business revenue, up 1.4 percentage points year-on-year. Currently, CHINA MOBILE has clearly defined communication services, computing services, and intelligent services as its main businesses, accelerating its transformation from a communications operator to a technology service enterprise.

Dong Xin, Party Secretary and Chairman of CHINA UNICOM, proposed that the company is fully committed to developing its computing power network, building a new computing power operation model of "Agent + Token + AI Cloud," strengthening the integration of computing and network and the coordination of computing and power, promoting the simultaneous development of general-purpose large models and industry-specific models, laying out frontier areas like embodied intelligence and swarm intelligence, and exploring paths for the development of general artificial intelligence.

Ke Ruiwen, Chairman of CHINA TELECOM, stated on April 30th that the company firmly grasps the development trend of artificial intelligence, promoting the upgrade of its corporate strategy from cloud and digital transformation to cloud, digital, and intelligent transformation. CHINA TELECOM will make "building a leading AI service provider" an important part of constructing a service-oriented enterprise in the intelligent era, continuously and deeply advancing the construction of its intelligent cloud system to provide stronger support and services for the digital and intelligent transformation of the economy and society.