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China leads global hydrogen production, consumption in 2024: report

China

China

China

China leads global hydrogen production, consumption in 2024: report

2025-04-29 15:32 Last Updated At:16:57

China's National Energy Administration (NEA) on Monday released the country's first-ever hydrogen energy development report, revealing that the country's hydrogen production and consumption topped 36.5 million tons in 2024, securing the top spot worldwide.

According to the report, by the end of 2024, renewable energy-based hydrogen production projects worldwide had an annual capacity of over 250,000 tons, with China contributing more than half of the total, positioning the country as a leader in global hydrogen production from renewable energy sources and related industries.

"In 2024, hydrogen production in China's 'Three-North' regions (northwest, north and northeast China) accounted for more than half of the national total, with Inner Mongolia, Shanxi, Shaanxi, Ningxia and other regions all ranking among the top positions. By the end of 2024, over 600 water electrolysis hydrogen production projects were planned across the country, with more than 150 already under construction or completed, yielding an annual production capacity of around 125,000 tons. These projects are mainly concentrated in northwest and north China, together accounting for nearly 90 percent of the country's total established hydrogen production capacity," said Xu Jilin, deputy director of the NEA's energy conservation and sci-tech equipment department, at a press conference in Beijing on Monday.

The report underscores China's significant advancements in hydrogen production, storage, transport, and utilization technologies.

Several large-scale renewable energy-based hydrogen production projects have been completed and put into operation, and the pilot application of fuel cell vehicles has been steadily advancing, with more than 540 hydrogen refueling stations built across the country, according to the report.

China leads global hydrogen production, consumption in 2024: report

China leads global hydrogen production, consumption in 2024: report

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China renews bilateral currency swap agreement with Türkiye

2025-06-14 06:27 Last Updated At:07:17

The People's Bank of China (PBOC), the country's central bank, has renewed a bilateral currency swap agreement with the Central Bank of the Republic of Türkiye.

The total value of this agreement is 35 billion yuan (about 4.88 billion U.S. dollars), or 189 billion Turkish lira, the PBOC said in a statement on its website on Friday.

The agreement is valid for three years and can be renewed upon mutual consent, according to the statement.

Meanwhile, the two sides have also signed a memorandum of understanding to establish a yuan clearing arrangement in Türkiye.

These arrangements mark a new stage in China-Türkiye financial cooperation and are expected to facilitate the use of local currencies by enterprises and financial institutions of both countries for cross-border settlements, further promoting and facilitating bilateral trade and investment, the statement said.

China renews bilateral currency swap agreement with Türkiye

China renews bilateral currency swap agreement with Türkiye

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