After spending a combined RMB 4.5 billion on Spring Festival 2026 user acquisition campaigns — with Alibaba's Qianwen spending RMB 3 billion, Tencent's Yuanbao RMB 1 billion, and Baidu's ERNIE Bot RMB 500 million — China's AI giants are pivoting from traffic-chasing to capability-building. The turning point came on June 24, when ByteDance's Doubao launched paid subscription tiers: Standard (RMB 68/month), Enhanced (RMB 200/month), and Premium (RMB 500/month), while Baidu consolidated its fragmented ERNIE web portals into one site. Doubao's large model now handles 180 trillion tokens daily, and at the latest Doubao 2.1 Pro output pricing of RMB 30 per million tokens, the daily API cost alone would be approximately RMB 5.4 billion. ByteDance's 2026 AI infrastructure budget reportedly exceeds RMB 200 billion. GPU hardware vendors claim at least 60% of token industry profits, and cloud infrastructure providers add another 50%+ margin. Volc Engine president Tan Dai noted that model usage peaks have shifted from weekends to weekdays, indicating AI products are entering production environments. Doubao 2.1 Pro now matches Claude Opus 4.7 on coding benchmarks and outperforms both Opus 4.7 and GPT-5.5 on the SciCode evaluation. The industry is consolidating fragmented product portfolios,