@Strangelove bro Toyota need to follow Tesla and Kowtow to Beijing, this policy may save them from Bankruptcy and irrelevance...lol
China aims to have 50,000 hydrogen-fueled vehicles by 2025
Updated 17:46, 23-Mar-2022
A vehicle serving the 2022 Beijing Winter Games is fueled with green hydrogen at a hydrogen refueling station in Zhangjiakou, north China's Hebei Province, February 11, 2022. /CFP
China aims to have about 50,000 hydrogen-fueled vehicles and produce 100,000 to 200,000 tonnes of green hydrogen a year by 2025, according to a plan ( in Chinese) jointly released by the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) on Wednesday.
The country will boost production of green hydrogen, a zero-carbon fuel generated from renewable energy sources, to accomplish the country's carbon peak and carbon neutrality goals.
By 2025, China will put in place a relatively complete hydrogen energy industry development system, with the innovation capability significantly improved and the core technologies and manufacturing processes mastered, according to the plan.
"[We aim to] make great progress in clean energy-made hydrogen production, storage and transportation, improve market competitiveness, and establish a supply system mainly based on industrial by-product hydrogen and green hydrogen," said the plan.
By 2030, China is seeking a reasonable and orderly industrial layout and wide use of hydrogen production from renewable energy to offer solid support for the carbon peaking goal.
By 2035, the proportion of hydrogen produced from renewable energy in terminal energy consumption will increase significantly, which will play an important supporting role in the country's green energy transformation, according to the plan.
Banks are urged to offer precise and differentiated financial services to green hydrogen industry, industrial investment and venture capital funds are encouraged to support innovative firms, and qualified firms are backed to be listed on the tech-heavy startup board ChiNext and the Nasdaq-style STAR Market.
The NDRC also warned of disorderly competition in the industry and called for a rational layout of hydrogen projects based on resources and market demand.
Hydrogen is a secondary source of energy that usually requires a primary energy input to be produced on an industrial scale.
Globally, hydrogen has become an important strategic choice for major developed economies seeking to accelerate their energy transformation and upgrading.
China is currently the largest hydrogen producer in the world, with an annual output of about 33 million tonnes.
Chinese Economics Thread
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Well, they teamed up with BYD to make an EV for the China market, but it might be too little too late...
Delete.
The hammer and sickle over a Gucci store. I don't what peak this is, but it's definitely peak something.
Given lower costs in China for R&D and manufacturing, spending more on R&D should still bring in high returns.
I've been thinking as to why China is having trouble with R&D funding, while the US doesn't. What I come up with is that US fueled their tech growth through debt and loans using ZIRP (zero interest rate policy) and stock market manipulation. Though only the US can do this currently, because of the reserve currency status. I don't think China should pursue a similar policy, looking at how perilous the debt situation is in US. Though Its good to see FDI into China increasing a lot lately, so it seems like the government's policy is working.
@Coalescence Bro aside from funding the need to nurture talents, plus to establish local tech companies and the market. Currently China had all three BUT it need time as they came late in the game. 2022 will mark the stage of IC growth in China, the momentum will carry it until 2030 were in my opinion it will overtake the US.
No it depends, if the buyback was to cancel the stock, then it's price neutral. It would be a return of cash to shareholders and shrinks the company. Hopefully they didn't do this type of buyback.
You are over thinking it, it's the brain drain, China pays too little. Just check to see what Silicon Valley is paying, easy 3x to 10x+ what China is paying.