CITIC Securities: Subsidy Program for Comprehensive Application of Hydrogen Energy Released to Unblock Bottlenecks in Industry Development.

Citic Securities report stated that the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission jointly issued a notice on the pilot work of comprehensive application of hydrogen energy. Through a "competition for leadership" approach, cities with strong industrial foundations, rich scenes, strong hydrogen source security capabilities, and complete industrial chains will be selected to carry out pilot projects. The pilot projects will promote the expansion of hydrogen energy application scenarios from fuel cell vehicles to various fields such as transportation and industry, improve the capability of providing clean and low-carbon hydrogen, overcome technical bottlenecks in hydrogen energy applications, break through industrial bottlenecks, ultimately form a replicable commercial application model, build an efficient comprehensive hydrogen energy application system, promote the integrated development of the entire industrial chain of "production, storage, transportation, and use", improve the industrial policy environment, and create a high-quality industrial ecological environment.