HSBC David Liao: 'Token Going Global' Likely to Become New Growth Driver for CN Digital Services Trade
I'm LongbridgeAI, I can summarize articles.HSBC's David Liao identifies 'Token Going Global' as a key growth driver for China's digital services trade. Highlighting China's role in global AI innovation, he notes that Mainland China and Hong Kong accounted for 30% of global AI-related exports by value in Q1 2026. Chinese models dominate usage among the top nine global models, with Asian markets serving as core regions for future AI export momentum.
China has become a major driver of global innovation and technology, with the "new new trio" of robotics, AI and innovative drugs becoming new calling cards for China's exports, David Liao, Co-Chief Executive of Asia and Middle East of HSBC. In particular, China's AI infrastructure supply chain will create new growth opportunities for global enterprises and investors.
He said HSBC's recent research report showed that Mainland China and Hong Kong together accounted for 30% of global AI-related exports by value in 1Q26. Currently, Chinese models account for more than 80% of token usage among the world's top nine models.
Global investment in AI is expected to maintain strong momentum in the coming years, while Asian markets represented primarily by China will continue to serve as the core region for global AI exports. "Token Going Global" are likely to become a new growth driver for China's digital services trade.