Global Times: When Double 11 Starts 'Hoarding Tokens', the Era Has Shifted
A Global Times editorial on November 5 notes that this year's Double 11 shopping festival added a new item to Chinese consumers' carts - tokens. Tmall and JD.com opened token zones, with Alibaba Cloud, DeepSeek, Moonshot and Zhipu onboard, and one livestream set a record of 2 trillion tokens sold in half an hour. The paper argues only China has turned tokens into a mainstream e-commerce product, breaking the old path where new digital concepts were defined in Silicon Valley and slowly spread outward. Citing OpenRouter, it says Chinese large-model token calls exceeded the United States for 27 consecutive weeks in the October 26-November 1 window, and over a third of tokens used by Global South enterprises come from Chinese models.
Source: Global Times, Nov 5, 2026 | 2026-11-05
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