Chinese banks launch Token loans to finance AI industry

Financial institutions in China are shifting risk management models to support the AI industry by introducing “Token loans” (Token 贷). This new credit product uses an enterprise’s consumption and production of AI tokens—the basic unit of measurement for large language models—as a core metric for credit assessment rather than relying solely on traditional physical collateral.

In Guangzhou’s Haizhu District, the Bank of China, CITIC Bank, and Bank of Guangzhou have begun implementing these products. The Bank of China’s Guangzhou branch has launched a specific “Computing Power Token Loan” covering three scenarios: supply, application, and service. This model evaluates creditworthiness based on token consumption, service contract values, accounts receivable from computing power business, and token commission settlements.

Other regions are following suit. Zhangjiagang Rural Commercial Bank has implemented “Computing Power Loans” combined with “Computing Power Vouchers,” while Jiangsu Bank has integrated computing efficiency and R&D investment into its scoring systems. Experts note that while this mimics the “flow-based loans” used in e-commerce, token consumption serves as a proxy for business activity in the AI era. However, some analysts caution that token usage is an indicator of business activity rather than realized cash flow, suggesting it may serve as a supplementary dimension to traditional credit systems rather than a total replacement.