China's National Development and Reform Commission (NDRC) has unveiled new policies targeting emissions reduction in major industries like steel, ammonia, refining, and cement. A primary focus of these policies is to enhance energy efficiency and drive the adoption of green hydrogen. With China currently dominating the grey hydrogen market, the shift towards green hydrogen could have significant implications for the global hydrogen economy. To completely replace grey hydrogen with green hydrogen, China would need to deploy more than 300 GW of electrolysis capacity, a move that could result in substantial economies of scale and a drop in green hydrogen prices. This shift is expected to make green hydrogen a more attractive and affordable fuel option for the future, potentially luring foreign manufacturers and importers into the Chinese market. Additionally, the presence of very low energy costs further bolsters the economic feasibility and desirability of green hydrogen as a sustainable energy source.