Today, the National Energy Administration announced the first batch of hydrogen energy pilot projects in the energy sector. Following expert evaluations, 41 projects, including an integrated green ammonia and hydrogen production facility in the Inner Mongolia Shenen Otoqi region, are set to receive support, along with nine areas such as Changchun, Songyuan, and Baicheng in Jilin Province for hydrogen energy pilot work. The latest data shows that since initiating fuel cell vehicle demonstrations in 2021, the five key demonstration city clusters, namely Beijing-Tianjin-Hebei, Shanghai, Guangdong, Zhengzhou, and Hebei, have promoted over 20,000 fuel cell vehicles and built 200 hydrogen refueling stations. The cumulative pure hydrogen mileage has exceeded 700 million kilometers, with hydrogen accounting for more than 90% of driving distance, resulting in over 40,000 tons of hydrogen refueling and a reduction of CO2 emissions by over 38,000 tons. Experts indicate that China's fuel cell vehicles have begun to realize commercial applications, operating regularly in eight key scenarios, including trunk logistics, cold chain logistics, transport in coal mines and steel, city sanitation, construction waste transport, port transport, public transportation, and ride-hailing, forming the largest-scale demonstration of fuel cell commercial vehicles globally.
Related Hong Kong stocks in the hydrogen energy sector include Weichai Power
In market outlook, spot gold surged towards the end of trading, breaking the $4,300 per ounce mark, reaching a new historical high. In overnight trading, the Dow Jones Industrial Average fell by 301.07 points to close at 45,952.24 points, a decrease of 0.65%. The S&P 500 dropped 41.99 points to 6,629.07, down 0.63%, while the Nasdaq Composite fell 107.54 points to 22,562.54, a decline of 0.47%. Tech stocks saw mixed results, with Tesla and AMD falling over 1%, while Nvidia rose more than 1%; storage-related stocks strengthened significantly, with Micron Technology up over 5% and Western Digital up over 4%. Spot gold continued to reach historical highs, with U.S. gold stocks showing strong performance, including a rise of over 6% for Golden Field and over 5% for Newmont Mining.
Most popular Chinese concept stocks fell, with Internet Century down more than 5% and Kingsoft Cloud down over 2%. The Hang Seng Index ADRs declined, settling at 25,809.63 points, reflecting a drop of 78.88 points or 0.30%.
Spot gold accelerated its rally past the $4,300 mark, increasing nearly $100 during the day, with a gain of nearly 2.5%. COMEX gold futures for the current month rose by $103.00, or 2.45%, to $4,304.60 per ounce.
Looking ahead, private enterprises will find it easier to use oil and gas pipeline facilities. The National Development and Reform Commission and the National Energy Administration have jointly issued the "Regulatory Measures for Fair and Open Access to Oil and Gas Pipeline Facilities," which provides clear regulations for monitoring the open access of these facilities. The measures include a series of arrangements regarding ‘what to supervise, who supervises, and how to supervise’ to enhance regulation in the commonly monopolized segments of the oil and gas sector, offering strong adherence guidelines. These measures will take effect on November 1 and will facilitate the use of pipeline facilities by private businesses. Related Hong Kong stocks in the gas sector include China Resources Gas
In other developments, on October 16, Southern Eastern announced the launch of a leveraged exchange-traded product tracking SK Hynix on the Hong Kong Stock Exchange. This product is the world's only leveraged exchange-traded product that tracks SK Hynix.
China CRRC
In September, China Shenhua
Baidu
Pacific Basin Shipping
China Tower
Fuyao Glass
On October 16, Alibaba
Junshi Biosciences
NOKO D科技
PICC P&C
GCL-Poly Energy
Horizon Pharma
Yima Sunshine