On March 16, a joint notice was issued by the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission. This notice proposed the application for comprehensive hydrogen energy application pilot projects, with city clusters serving as the primary entities. The central government will implement a 'reward-based' approach in lieu of direct subsidies, allocating a total of up to RMB 8 billion in demonstration application rewards over a span of four years to selected city clusters. Notably, the reward for any single city cluster during the pilot period will not exceed RMB 1.6 billion. Given the escalating policy support this year, the hydrogen energy industry is poised to experience accelerated industrialization during the '15th Five-Year Plan' period, presenting promising prospects for companies operating within this sector.
