Beijing ramps up computing power to boost ‘token economy’ in tech race with US

Beijing is ramping up its computing power and unveiling new policies to boost the city’s “token economy”, as China accelerates AI adoption across key industries in its tech race with the US. The Chinese capital aims to add another 50,000 petaflops of intelligent computing power in the second half of 2026, pushing its total capacity over 130,000 petaflops by the end of the year, the Beijing Municipal Bureau of Economy and Information Technology said at a press briefing on Tuesday. One petaflop…