According to the recently printed and issued Several Policies on Hydrogen Energy Industry Park Development in Qingdao, Qingdao will ramp up efforts in land use guarantee, scientific and technological innovation, talent cultivation, and industry chain and supply chain coordination, contribute RMB100mln worth of public finance for three years in a row to fund key projects in the park such as major infrastructure projects, public service platforms and scientific innovation incubators, incentivize upstream and downstream hydrogen energy projects to gather in the park, and strive to build a top hydrogen energy industry park in China.

The Policies are designed to incentivize upstream and downstream hydrogen energy industry enterprises to gather in the park, assist R&D institutions in scaling up inputs and facilitate the industrialization of key innovation achievements through the provision of a maximum cumulative subsidy of RMB12mln for a R&D institution. According to the Policies, the key hydrogen energy enterprises, which invest more than RMB5mln to get located in the park, are entitled to a subsidy for rental of offices, R&D and production premises for a maximum of three years, with a cumulative subsidy for an enterprise not exceeding RMB10mln. Projects that make more than RMB100mln in fixed asset investment in the park can be each granted with a maximum one-off subsidy of RMB50mln.