China has surged ahead in the green hydrogen race, funneling an impressive 300 billion yuan ($42.04 billion) into the burgeoning industry this year, according to a report by state broadcaster CCTV.
This financial influx is attributed to robust government support and region-specific initiatives aimed at fostering a low-carbon future.
The massive investment underscores China’s commitment to leveraging green hydrogen as a key player in its dual objectives of carbon peaking and neutrality. With an emphasis on technological innovation, the country aims to significantly increase the share of green hydrogen in its total output, projecting a rise from less than 1 percent to an ambitious 15 percent by 2030.
China’s advancements in green hydrogen extend to its transportation sector, with trials of trucks, locomotives, and ships powered by hydrogen fuel cells already underway. Additionally, the country is planning the construction of pipelines for long-distance hydrogen transport. The China Oil and Gas Pipeline Network Corporation recently conducted a successful blast experiment for a pipeline designed to carry a hydrogen-natural gas mixture, paving the way for potential integration with the existing pipeline network.
As China escalates green hydrogen production, the focus extends to the export market, particularly hydrogen-based chemicals such as synthetic ammonia. The move aligns with the global push for environmental standards, with the European Union being a key market. The hydrogen energy market in China is anticipated to reach a substantial 43 million tons by 2030, according to estimates from the China Hydrogen Alliance.