Hubei issues computing vouchers as China’s token demand forecast to surge 12x by 2030
On September 21, 2026, Hubei province announced "computing vouchers" to subsidize AI computing costs for small firms and tech teams. China's intelligent computing power grew from 159 EFLOPS in 2021 to 2,185 EFLOPS by mid-2026, with a national target of 9,800 EFLOPS by 2030. Analysts forecast China's annual token consumption will reach 1 trillion by 2026 and exceed 350 trillion by 2030, a compound annual growth rate of nearly 12 times.
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Hubei Issues Computing Vouchers as China's Token Demand Surges, Analysts Say
On September 21, Hubei province announced 'computing vouchers' to subsidize AI computing costs for small firms and tech teams, as part of broader economic stimulus measures. China's intelligent computing power (EFLOPS) is projected to grow from 159 in 2021 to 2,185 by mid-2026, with a national target of 9,800 by 2030, according to the Ministry of Industry and Information Technology. The national integrated computing network has been included in the 15th Five-Year Plan as a major project. Shanghai Securities notes that computing demand is driving the token economy, with China's token consumption expected to reach 1 trillion by 2026 and exceed 350 trillion by 2030, a compound annual growth rate of nearly 12 times. Huayuan Securities estimates that data center civil engineering investment during the 15th Five-Year Plan period could range from 172.6 to 269.7 billion yuan. Dongfang Securities states that the performance upgrade of DeepSeek V4.1 Flash model is driving domestic computing and switching chip demand growth. The article compiles forecasts from three Chinese securities firms dated September 16-17, 2026.
Read sourceHubei Issues Computing Vouchers as China's Token Demand Surges, Analysts Forecast
On September 21, Hubei province announced 'computing vouchers' to subsidize AI compute costs for small firms and research teams, as part of broader economic stimulus measures. The article reports that China's intelligent computing capacity grew from 159 EFLOPS in 2021 to 2,185 EFLOPS by mid-2026, with a government target of 9,800 EFLOPS by 2030. The national integrated computing network has been designated a major project in the 15th Five-Year Plan. As of July 2026, total national intelligent computing capacity reached 2.45 million PFLOPS, up 54% from end-2025. Shanghai Securities forecasts that China's token consumption will reach 1 trillion by 2026 and exceed 350 trillion by 2030, with computing demand growing nearly 10x annually over the next 2-3 years. Huayuan Securities estimates 15th Five-Year Plan period data center construction investment between 172.6 and 269.7 billion yuan. Oriental Securities notes that DeepSeek V4.1 Flash model performance upgrades are driving domestic AI computing and switching chip demand.
Read sourceHubei Issues Computing Vouchers as China's Token Demand Surges; Analysts Forecast 10x Annual Compute Growth
On September 21, Hubei province announced 'computing vouchers' to subsidize AI compute costs for small firms and tech teams, as part of broader economic stimulus measures. The article reports that China's intelligent computing power rose from 159 EFLOPS in 2021 to 2,185 EFLOPS by mid-2026, with a government target of 9,800 EFLOPS by 2030. The national integrated computing network has been included in the 15th Five-Year Plan. As of July 2026, total intelligent computing capacity reached 2.45 million PFLOPS, up 54% from end-2025. Shanghai Securities notes that compute demand drives the token economy, citing a China Telecom report forecasting China's token consumption to reach 1 trillion by 2026 and over 350 trillion by 2030, with compute demand growing nearly 10x annually over the next 2-3 years. Huayuan Securities estimates 15th Five-Year Plan data center construction investment between 172.6 and 269.7 billion yuan. Oriental Securities states that DeepSeek V4.1 Flash model performance upgrades will drive domestic compute and switching chip demand growth.
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Hubei Province Issues Computing Vouchers to Boost Subsidies as China's Token Demand Surges
On September 21, the Hubei provincial government announced measures including 'computing vouchers' (算力券) to increase subsidy ratios and reduce AI computing costs for small firms and tech teams. China's intelligent computing power rose from 159 EFLOPS in 2021 to 2,185 EFLOPS in the first half of 2026, with a target of 9,800 EFLOPS by 2030 under the 15th Five-Year Plan. The national integrated computing network is a major project in the plan; by July 2026, total intelligent computing reached 2.45 million PFLOPS, up 54% from end-2025. Eight national computing hubs and three computing-electricity zones account for over 85% of built capacity. Shanghai Securities notes token demand is exploding: China's annual token consumption is forecast to reach 1 trillion by 2026 and over 350 trillion by 2030, with a CAGR near 12x. Huayuan Securities estimates 172.6-269.7 billion yuan in data center civil engineering investment during the 15th Five-Year Plan. Oriental Securities says DeepSeek V4.1 Flash's performance and cost-efficiency will boost domestic AI model adoption and drive demand for domestic computing and switching chips.
Read sourceChina's Token Demand Surges; Hubei Issues Subsidy Policy; Sci-Tech 100 ETF Rises
On September 22, 2026, the Sci-Tech 100 ETF (588030) tracking the SSE Sci-Tech 100 Index rose 0.48% intraday, with a peak gain of over 2%. The ETF has risen 24.86% in the past six months. On September 21, Hubei Province issued a policy to provide 'computing vouchers' and increase subsidy ratios, including models and tokens in the subsidy scope to lower computing costs for SMEs and tech teams. China's intelligent computing power grew from 159 EFLOPS in 2021 to 2,185 EFLOPS in H1 2026, with a target of 9,800 EFLOPS by 2030. Shanghai Securities noted that computing demand drives the token economy, predicting China's annual token consumption will reach 1 quintillion in 2026 and exceed 350 quintillion by 2030, with a CAGR of nearly 12x. Guosheng Securities forecast China's computing market to grow from 835.1 billion yuan in 2025 to nearly 2 trillion yuan by 2030, supported by over 1 trillion yuan in combined capital expenditure from cloud vendors, telecom operators, and internet firms.