Blazing hot IPOs, an AI agent craze, and a new word for ‘token’: Here’s what’s happening in the world of Chinese AI

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China now has a word for token: ciyuan. 

Liu Liehong, the administrator of China’s National Data Administration, the country’s main data regulator, unveiled the term at a State Council press conference in March, explaining that tokens were now “the settlement unit linking technological supply with commercial demand.”