China model API pricing

Where our earlier coverage reported conflicting figures, we left them out until verified. Qwen, Zhipu and MiniMax are listed at the CNY prices on their official China price pages; international USD prices differ.

Current prices (official pages, checked 2026-09-30)

CNY per million tokens. Where time-of-day pricing applies: peak / off-peak.

1. DeepSeek

   deepseek-flash (V4.1-Flash)

   Input · cache hit 0.04 / 0.02 · Input · cache miss 2 / 1 · Output 8 / 4 · International USD: input $0.15 / $0.30, output $0.60 / $1.20 (off-peak / peak); peak = 01:00–04:00 and 06:00–10:00 UTC on weekdays · Official

2. DeepSeek

   deepseek-v4-pro (V4-Pro-0813)

   Input · cache hit 0.3 / 0.15 · Input · cache miss 9 / 4.5 · Output 27 / 13.5 · International USD: input $0.66 / $1.32, output $1.98 / $3.96 (off-peak / peak) · Official

3. Moonshot Kimi

   kimi-k3

   Input · cache hit 2 · Input · cache miss 20 · Output 100 · Official

4. Moonshot Kimi

   kimi-k2.7-code

   Input · cache hit 1.3 · Input · cache miss 6.5 · Output 27 · Official

5. Moonshot Kimi

   kimi-k2.6

   Input · cache hit 1.1 · Input · cache miss 6.5 · Output 27 · Official

6. Alibaba Qwen

   qwen3.8-max

   Input · cache hit — · Input · cache miss 12 · Output 36 · input ≤1M tokens, Beijing region · Official

7. Alibaba Qwen

   qwen3.7-plus

   Input · cache hit — · Input · cache miss 2 · Output 8 · list price for input ≤256K; currently 20% off for a limited time · Official

8. Zhipu

   GLM-5.3

   Input · cache hit 2 · Input · cache miss 8 · Output 28 · Official

9. Zhipu

   GLM-5.3-Flash

   Input · cache hit 0.23 · Input · cache miss 0.8 · Output 2.8 · standard price; currently 50% off for a limited time · Official

10. MiniMax

    MiniMax-M3

    Input · cache hit 0.42 · Input · cache miss 2.1 · Output 8.4 · input ≤512K, after the official permanent 50% discount · Official

11. MiniMax

    MiniMax-M2.7

    Input · cache hit 0.42 · Input · cache miss 2.1 · Output 8.4 · Official

Price change log

1. 2026-04-24

   DeepSeek V4-Pro launched at a list price of ¥12 input (cache miss) / ¥24 output, with a 75% launch discount (¥3 / ¥6). Source

2. 2026-04-26

   DeepSeek cut cache-hit input prices across the lineup to a tenth of launch levels: ¥0.02 for V4-Flash, ¥0.025 for V4-Pro. Source

3. 2026-05-31

   DeepSeek said V4-Pro would stay permanently at a quarter of its list price after the promotion — ¥3 input / ¥6 output (about $0.435 / $0.87). Source

4. 2026-07-16

   Kimi K3 launched (≈2.8T parameters, 1M-token context). International list price: $3 input / $15 output per million tokens (our Aug 27 issue). The China site now lists ¥20 input / ¥100 output. Source · Our issue

5. 2026-08-17

   DeepSeek introduced peak/off-peak API pricing: weekday 9:00–12:00 and 14:00–18:00 Beijing time are peak; off-peak is half price. V4 Pro output ¥27 peak / ¥13.5 off-peak; V4 Flash output ¥9 / ¥4.5. Source · Our issue

6. 2026-08-16

   International (USD) peak/off-peak pricing took effect: V4 Flash input $0.22 / $0.44, output $0.66 / $1.32; V4 Pro input $0.66 / $1.32, output $1.98 / $3.96 (off-peak / peak). Source

7. 2026-09-10

   DeepSeek launched V4.1 Flash and said it planned to route V4 Pro requests to the new model at Flash prices. Source · Our issue

8. 2026-09-30

   Official price page check: deepseek-flash (V4.1-Flash) output is ¥8 peak / ¥4 off-peak ($1.20 / $0.60 internationally), below V4 Flash’s ¥9 / ¥4.5 ($1.32 / $0.66) in August; no announcement of the change date was found. v4-pro is unchanged since Aug 17. Source

9. 2026-09-30

   Kimi K3.1 appeared on the API platform; the official price page does not list it yet. Source · Our issue