INTRODUCTION: FROM THE 2020 HYDROGEN BOOM TO THE 15TH FYP INDUSTRIAL STRATEGY 6

THE STATISTICAL PICTURE: 2025 OFFICIAL DATA AND 2030 TARGETS 8

WHAT THE 15TH FYP ACTUALLY CHANGES 10

RENEWABLE HYDROGEN AND GREEN MOLECULES: FROM PROJECTS TO MOLECULES 12

ECONOMICS AND DEMAND CREATION: WHO WILL BUY THE 2 MT? 14

DEMAND PRIORITIES: WHERE RENEWABLE HYDROGEN SHOULD AND SHOULD NOT BE USED 18

INFRASTRUCTURE AND REGIONAL GEOGRAPHY: PIPELINES, PORTS, CLUSTERS AND BOTTLENECKS 19

TECHNOLOGY COMPETITIVENESS: SCALE LEADERSHIP, SELECTIVE GAPS 21

GOVERNANCE AND RISKS AFTER 2025 24

POLICY RECOMMENDATIONS 26

  For Chinese policymakers 26

  For European and international stakeholders 28

CONCLUSION 30