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
Mongolia Delivers First Batch of Donated Sheep to China
Mongolia Delivers First Batch of Donated Sheep to China
iQiyi to Create Genre-Specific Content to Meet Different Audience Demands
LATEST
Chinese Companies Line Up to Take Advantage of Huawei’s U.S. Troubles
Trending in China: Social Media Applauds Jack Ma’s Detailed Critique of China’s Financial Sector
Trending in China: Female Student Fights ‘Period-Shaming’ – Social Media Discusses the Pros and Cons
Chinese Auto Tech Startup Closes $194 Million Series A Funding Round Led by Baidu
iQiyi to Create Genre-Specific Content to Meet Different Audience Demands
Gaw Capital Inks JV With Manbang Group to Develop Smart Logistics Properties in China
Tesla Recalls Nearly 50,000 U.S.-Made Cars in China over Suspension Problems
Fintech Giant Lufax’s U.S. IPO Could Raise $2.36 Billion
WeChat Judge Won’t Pause Temporary Order Blocking Trump Ban
Mongolia Delivers First Batch of Donated Sheep to China
Signs of Stormy Weather Ahead for One of China’s Largest Semiconductor Makers
Trending in China: Finding Pleasure in the Pain of Everyday Life – China’s Youth Mock Their Own Reality
‘Double 11’ Shopping Fest Faces Covid-19 Supply Chain Pressures
Trending in China: Scalpers Take Advantage of Lack of New iPhone 12s in Stock in China
JD.com Expands Robot Delivery Service to New City
China Meets 5G Base Station Target 3 Months Early
China Unicom Revenue Growth Remains Flat as Subscribers Fall
Trending in China: Is Education To Blame For China’s Falling Fertility Rate?
Trending in China: Winning Fewer Games and More Battles? PLA Ends Sporting Tradition
China Calls Time on Chipmakers With No Experience, No Technology and No Talent
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