Amid the global AI race, China's large models are accelerating at an astonishing "Chinese speed" by leveraging exceptional performance and ecosystem advantages.

According to the latest data from OpenRouter, during the week of March 30 to April 5, China's AI large models demonstrated a dominant level of activity: weekly token usage surged to 12.96 trillion Tokens, with a staggering increase of 31.48% compared to the previous week. In contrast, the US had only 3.03 trillion tokens used in the same period, with a mere 0.76% growth. The gap in application scale between the two is continuously widening.

The top six rankings are all made in China, with Alibaba and Xiaomi leading

In the global large model usage ranking, domestic models achieved a "grand slam," directly occupying the top six positions:

Alibaba's Qwen3.6Plus dominates the market: Alibaba's Qwen3.6Plus (free) topped the global ranking with a weekly token usage of 4.6 trillion; its preview version Qwen3.6Plus Preview also ranked third.

Xiaomi MiMo shows steady performance: Xiaomi Group's MiMo-V2-Pro firmly holds the second position.

The first-tier models have seen a surge: Domestic models such as Step3.5Flash by Jieyu Star, M2.7 by MiniMax, and V3.2 by DeepSeek follow closely, collectively forming the first tier of global AI models.

Explanation: Why has Token become the "digital oil" of the AI world?

In the AI field, a Token (token) is the smallest billing unit that measures a model's thinking and generation capabilities.

Analogy: One Chinese character is approximately equivalent to 0.7 to 1.3 Tokens. A 1000-character article would consume about 1300 Tokens.

Commercial significance: With the sharp rise in usage, AI production capacity is being commercialized, quantified, and traded like oil.

Industry Insight: High cost-effectiveness builds pricing barriers

Zhongtai Securities analysis indicates that domestic AI large models are building a highly competitive "high cost-effectiveness token" pricing barrier by leveraging dual advantages in energy and computing power costs. As demand for AI Agents (intelligent agents) and multimodal applications rises, companies with independent large model capabilities and extensive application scenarios will see significant investment opportunities.

Investment Trends: Seize the advantages of "scale and low cost"

For investors, domestic large model giants listed on the Hong Kong stock exchange have performed particularly well.

Ecosystem moat: Alibaba, Xiaomi Group, Tencent Holdings, and Baidu Group not only have massive user barriers and application access points but also possess leading advantages in technology and ecosystem integration.

Computing power independence: Pingtouge under Alibaba and Kunlun X under Baidu provide independent semiconductor support, giving them stronger risk resistance in a computing power scarce market environment.

Conclusion: From "following" to "leading"

Continuous five-week surpassing of the US usage data proves that China's AI has completed a qualitative shift from technological verification to large-scale industrial application. In this token feast, Chinese power has become a key factor in defining the global AI business order.