Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled
LATEST
ByteDance, Tencent Rush to Launch Personal AI Agents After Meta’s Muse Success
Luxshare, Foxconn Among Firms Targeted in U.S. Power System Probe
CXMT Shares Suffer Biggest Drop Since July IPO
Xiaohongshu Pushes Further Into Gaming, Anime With Bigger Festival
In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled
AI to Drive Expansion in Cyberattacks, Industry Execs Warn
AI Boom Faces Growing Threat From Climate Change, Researcher Says
AI Boom Redraws Global Tech Map, Industry Executives Say
Chinese Phone-Makers Raise Prices of Flagship Models as Memory Costs Surge
Qualcomm China Chief Sees Country Well Placed for AI Device Race
Tencent to Shut Down QClaw Assistant in Enterprise AI Push
DJI and Insta360’s Battle for Gimbal Camera Market Comes at a Cost
From Chips to Laptops: Alibaba Accelerates Full-Stack AI Ambitions
China’s Open-Source AI Could Narrow Global Income Gap, Economist Says
Embodied AI Startup Paxini Kicks Off Mainland IPO Bid Amid Sector Volatility
Alibaba Unveils New AI Chip as Cloud Infrastructure Push Deepens
Xiaomi Steps Up AI Investment With New Models
AI Firm SiliconFlow Raises New Funds
China Seeks to Protect Minors With Proposed AI Rules
Chinese Smartphone Makers Bet on AI Agents to Revive Demand
China Boosts Hydrogen Fuel Cell Investment in Green Energy Push

By An Limin and Han Wei / May 15, 2019 02:34 AM / Business & Tech

Photo: VCG

Photo: VCG

Local governments in China are stepping up support for hydrogen fuel cell projects as part of wider efforts to promote green energy in the world’s largest auto market.

Shenzhen-listed Beijing Shouhang IHW Resources Saving Technology Co. became the latest company to receive government backing for a hydrogen fuel cell business when it signed a cooperation agreement with the Datong city government in Shanxi province Monday. The city authorities pledged to grant Beijing Shouhang priority in accessing the government’s 2 billion yuan hydrogen industry investment fund, low-interest loans and tax support.

Beijing Shouhang plans to set up three hydrogen production plants and more than 10 hydrogen stations for vehicles in Datong. The agreement is part of Datong’s push to shift its economy from coal production to clean energy. Hydrogen fuel cells use a chemical reaction between hydrogen and oxygen to generate electricity that can be employed in powering vehicles.

Dozens of city governments have unveiled similar projects to develop the hydrogen industry, including Jiaxing in Zhejiang and Changshu in Jiangsu. Local governments’ enthusiasm reflects Beijing’s signals of continued support for hydrogen fuel cell vehicles despite its decision to slam the brakes on subsidies for electric cars.

Huang Libin, a spokesman for the Ministry of Industry and Information Technology (MIIT), said earlier this week that China will push ahead with the development of hydrogen energy and the fuel cell vehicle industry. Pure, battery-powered electric vehicles are more suitable for urban and short-distance passenger travel, while hydrogen fuel cells are more suitable for long-distance and large commercial vehicles, Huang said.

Related: China Slams Brakes on Electric Bus Subsidies


Share this article
Open WeChat and scan the QR code