Huangpu issues new rules to spur hydrogen industry

The district of Huangpu and Guangzhou Development District in Guangzhou, capital city of south China's Guangdong province, recently released a regulation to further promote the development of its hydrogen industry. 

A hydrogen bus in Guangzhou [Photo/southcn.com]

According to the regulation, the local government will extend full-scale support to the development of the hydrogen industry in terms of market entry, the application of credentials from research institutes, the formation of professional associations and industrial parks, and the building and operation of hydrogen stations, as well as capital allocation, subsidies to banking loans, and venture investment. [Photo/southcn.com]

For instance, the construction and management of hydrogen stations will enjoy double subsidies. In addition to an allowance of up to one million yuan ($140,540) to eligible hydrogen energy projects as stipulated in existing policy, the new regulation will grant up to six million yuan to subsidize the construction of hydrogen stations in accordance with their completion time and their daily capacity to power vehicles.

Moreover, hydrogen stations will be provided with no more than 20 yuan per 20 kilogram hydrogen to subsidize their supply of relevant energy.

Local government will also provide financial bonuses of up to 100 million yuan to new hydrogen projects to reward their initial investment. Meanwhile, relevant enterprises and research institutes will be given up to five million yuan over three years to subsidize their bank loans taken out for production and research purposes.

Furthermore, both hydrogen industrial parks and associations will receive financial assistance for operations, to attract business investment and as rental subsidies.

Statistics show that the total industrial output of Huangpu district and Guangzhou Development District accounts for 40 percent of that of Guangzhou and that the industrial scale of new energy in the district surpasses 10 billion yuan, which is a solid foundation for the development of the hydrogen industry.

According to its development outline, the district intends to build a comprehensive hydrogen industrial chain with a market value surpassing 20 billion yuan by 2020.