China Unveils its First Long-Term Development Plan (2021-2035) for Hydrogen Energy Industry
ISSUING AUTHORITY:
National Development and Reform Commission, National Energy Administration
DATE OF ISSUANCE:
March 23, 2022
On March 23, the Chinese authorities released the first long-term plan for the hydrogen energy industry, covering the period of 2021–2035. The plan identifies hydrogen as a frontier industry to boost economic development and an important part of the national energy system. It further lays out a phased approach to developing the domestic hydrogen industry and manufacturing capabilities, while specifying some supporting policies to enhance the investment in the hydrogen industry.
According to this plan, hydrogen industry development will be divided into three stages. By 2025, a relatively complete institutional and policy environment for the development of the hydrogen industry will be formed. By 2030, a relatively complete technological innovation system for the hydrogen industry as well as a clean energy-based hydrogen production and supply system will have been established. By 2035, a hydrogen energy industry system will have been formed with a diversified ecology for hydrogen energy application covering transportation, energy storage, industry and other fields.
The plan has also provided some specified measurements facilitating the hydrogen industry investment, including encouraging industry investment funds and venture capital funds to support the innovative enterprises of the hydrogen industry, and encouraging banks to provide precise and customized financial services for hydrogen enterprises. The plan points out that an effective commercialization path for the hydrogen industry needs to be accelerated, especially in the field of energy storage and distributed power generation.
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