Visitors look at a mini-sized hydrogen-powered car at a motor expo in Beijing, on Sept 29, 2020. *(Photo by CHEN XIAOGEN FOR CHINA DAILY)
JH Investment also expects the sector will receive heavy policy support in the long run as it believes hydrogen power is one of the ultimate solutions to achieve net-zero emissions.
Many private firms are also actively involving themselves in the clean energy resource, showing interest in hydrogen transport and industry as well as seeking new opportunities as integrated energy suppliers.
Companies like Foran Energy and ENN Energy have early-stage projects for blending hydrogen into gas grids, while China Suntien Green Energy Corp, a distributor of natural gas and an operator of wind farms, commissioned an onshore wind-to-hydrogen project this year.
China's Longi Green Energy Technology Co, the world's top solar panel maker, also moved into the hydrogen sector this year, a move that could allow for storage of excess solar power generated during the day for use during low-production periods.
Cities nationwide are also busy laying out their hydrogen blueprints. Beijing aims to have over 10,000 fuel cell vehicles on its roads and 37 hydrogen filling stations by 2025, as part of its ambitious plan to develop the hydrogen energy industry.
It will also cultivate 10 to 15 leading hydrogen enterprises with international influence and three to four top-notch industrial research, development and innovation platforms by then, according to a hydrogen energy industry development blueprint released by the Beijing Municipal Bureau of Economy and Information Technology.
