"Token" Economy Sparks CPO Boom! GEM Artificial Intelligence ETF Recruitment (159243) Rises Over 3.6%

On March 25th, the AI sector saw a significant rally, with the 20CM Growth Enterprise Board Artificial Intelligence ETF (159243) rising over 3.6%. Its constituent stock, Guanghuan Xinwang, surged more than 15%, while Dongfang Guoxin, Aofei Digital, and Xiechuang Data increased over 7%. Tongniu Information and Tianfu Communication rose more than 5%.

Recently, the National Data Bureau designated the Chinese name for tokens as “word elements,” revealing a market worth hundreds of billions that is gradually emerging. China’s AI large model weekly call volume reached 4.96 trillion tokens, surpassing the US for the second consecutive week. JPMorgan predicts that China’s AI inference token consumption will grow from approximately 10 billion trillion in 2025 to about 3,900 billion trillion by 2030, an increase of about 370 times over five years. As token consumption continues to rise, it indicates a significant increase in downstream application willingness and capacity to pay, shifting AI from “storytelling” to “practical implementation.” The explosive demand directly drives upstream computing power supply to expand rapidly, creating strong market pull.

In addition, major technological breakthroughs have been announced. Chinese research teams have successfully broken the world record for optical communication transmission speed. As the number of parameters in large models grows exponentially, data center internal and inter-center data transmission latency and bandwidth bottlenecks are becoming more prominent. This breakthrough in transmission speed means a substantial increase in data throughput per unit time, directly reducing communication costs for large-scale cluster training. Core hardware such as optical modules and optical chips, the “vessels” of computing power, are experiencing rapid technological iteration, providing strong support for industry explosion.

On the policy front, the National Data Bureau recently stated it will accelerate the construction of national hub computing clusters and support regions with conditions to develop computing power according to low-latency needs. It is expected that by the end of the 14th Five-Year Plan, China’s AI-related industry scale will surpass 10 trillion yuan.

Institutions point out that China’s AI industry is undergoing a profound transformation—an intense resonance between logical computing power demand and capital investment, marking the industry’s entry into a high-growth cycle of “demand explosion—price transmission—capital infusion.”

Data shows that the Growth Enterprise Board Artificial Intelligence ETF (159243), which tracks the Growth Enterprise Board AI Index, has a high concentration of leading optical module companies. From an industry distribution perspective, the index covers the entire AI industry chain, including AI hardware, AI applications, and AI software. The net profit growth attributable to shareholders in 2025 is expected to reach 127.36%, significantly higher than the Growth Enterprise Index, indicating an upward trend in industry prosperity.

(Edited by: Zhang Xiaobo)

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