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And Mackey:

Analysts believe China, with an annual production capacity of more than 25 million metric tons currently as well as a huge hydrogen market demand due to the booming growth of new energy vehicles, has substantial potential in developing hydrogen energy, and China's development of hydrogen industry is also in accordance with the international strategy on energy transmission.

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And the competition in the industry is getting more harsh, with growing uncertainties involving changing global policies, shifting customer preferences and emerging new technologies, according to Zhu.

Analysts said that listed technology companies would be the biggest beneficiaries from the revised rules as the country's regulators intend to lower their financing barriers and encourage them to tap into the capital market for additional funding.