Summary of Key Points
Recently, major model token operation platforms have been launched in cities such as Jiaxing, Wenzhou, and Guangzhou, with various entities behind them—including municipal investment companies (city-owned enterprises), data groups, and data exchanges. These platforms offer a “unified entry point” to help businesses overcome difficulties related to account management, measurement and settlement, and compliance when utilizing multiple large models. They also provide token packages and free quotas to attract users. However, there are still concerns regarding these platforms: Will users renew their subscriptions after the free quotas are exhausted? Are there any real paying customers beyond those receiving financial subsidies? Could this become a new form of financing rather than a genuine business model? The ultimate success of these platforms will depend on whether businesses are willing to pay out of their own pockets once the subsidies end.
Local Token Platforms: A “One-Stop Convenience Store” for Enterprises Using AI
You can think of these platforms as “AI model supermarkets” or “large model managers.” For example, Wenzhou’s “Ci Yuan Tian Xia” sells tokens (the unit of measurement for large models to process information, more precise than simply “number of words”) for 29 yuan, along with a free quota of 60 million tokens. Jiaxing’s platform functions more like a “unified service center,” offering five key aspects of unification: unified interface, unified measurement, unified settlement, unified policy deductions, and unified security audits. Enterprises no longer need to open accounts separately with model providers such as DeepSeek or Qwen; they simply communicate their needs to the platform, which then selects the appropriate models for them.
In short, these platforms solve common problems for businesses. Previously, small companies had to use several models, register multiple accounts, recharge frequently, manage numerous keys, and handle invoices and compliance issues. Now, with one account, they can resolve all these matters locally without having to wait for remote customer support.
Why Do Enterprises Buy Into These Platforms?
For small and medium-sized enterprises (SMEs), the value of these platforms is clear. For instance, a company interviewed by People’s Daily previously spent between 3,000 and 7,000 yuan per month on recharges across multiple platforms; after switching to token packages, the cost dropped to less than 2,000 yuan. The reason is that the platforms consolidate resources, potentially securing discounts on bulk model purchases and saving on the labor costs associated with managing multiple accounts.
For example, if a small company needs to create meeting summaries, the platform can directly recommend the most cost-effective model without requiring them to inquire about prices from different providers like ChatGPT, DeepSeek, or GLM. For more complex research tasks, the platform can help select higher-priced but more reliable models. This “on-demand matching” service is particularly beneficial for SMEs that are not familiar with technology.
Municipal Investment Companies Entering the Market: Changing Business Models to Focus on “Entry Points”
It’s not surprising that municipal investment companies, such as Jia Cheng Group (which previously focused on road construction and gas management), are entering the token platform business. These companies are accustomed to being involved in creating “entry points” for various services—roads provide access for transportation, parking lots offer parking facilities, and now AI token platforms serve as an entry point for enterprises using AI. The logic is the same: they gather dispersed demands and turn them into long-term operational assets.
Compared to traditional infrastructure projects, this business model is much more lightweight. There’s no need for land acquisition or construction; a website with connected models is enough to get started. Moreover, AI represents a growing trend that offers new opportunities. With limited availability of land and lower returns from traditional infrastructure, token platforms can leverage government subsidies and the momentum of AI growth, making them an attractive option for municipal investment companies.
Concerns: Who Will Pay After the Free Offers End?
The current popularity of these platforms is largely driven by free quotas and future “government-issued token vouchers.” However, the real question is:
- Will enterprises continue to pay after the free quotas are used up?
- If government token vouchers are exhausted, will there be businesses willing to pay on their own?
- Can the discounts obtained from model providers cover the platform’s costs?
If a platform’s revenue comes solely from government procurement and internal customers, it functions more like a conduit for fiscal funds—money flows from the government to the municipal investment company without truly representing a market-based business. Only when local manufacturing companies and small merchants are still willing to pay after the subsidies end will the platform generate its own cash flow.
The Key to Future Success: Whether It’s a “Path That People Are Willing to Take”
The success of these platforms hinges on one criterion: whether enterprises will continue to pay on their own after the subsidies end.
If a platform merely replicates the services provided by cloud vendors (accessing the same models and relying on subsidies to attract users), then it will just create a series of non-interoperable “toll booths” with no real market demand. However, if the platform can use cheaper domestic models for routine tasks, offer reliable higher-priced models for complex projects, and address data security and compliance issues, it will have created a path that people are genuinely willing to follow.
Everyone is waiting: for the free quotas to be used up, for government token vouchers to be implemented, and for businesses to show their willingness to pay with real money. Only then will we know whether these municipal investment companies have truly seized the AI opportunity or just told another familiar story about financing.
In Conclusion
These local token platforms have the potential to address real business challenges, but whether they can transition from being policy-driven to market-driven is crucial for their success. After all, everyone likes free offers, but only paying customers are the foundation of a sustainable business model.