(Yicai) April 17 -- Shares in Xiong An New Power Technology, Sichuan Shudao Equipment and Technology and other Chinese hydrogen energy firms surged today after the government of the southwestern province of Sichuan said it will look into exempting hydrogen-powered vehicles from paying toll fees on expressways, Sichuan Daily reported.

Xiong An’s share price [SHE:300152] jumped by the exchange-imposed limit of 20 percent to CNY2.16 (USD0.29), while Shudao’s stock [SHE:300540] closed up 19.9 percent at CNY24.30 (USD3.40) and Beijing Forever Technology [SHE:300365] finished the day up 18.4 percent at CNY5.30 (USD0.73).

Sichuan will explore the waiving of highway toll fees for vehicles powered by hydrogen energy, the report said, citing the head of the province’s department of transportation at a conference to spur the hydrogen industry. 

The Sichuan government will also encourage local governments to lift restrictions on the use of hydrogen freight trucks in cities and help municipalities across the province to upgrade their hydrogen energy equipment, it added.

The hydrogen sector has been a focus of government support in recent months. Last month, the National Energy Administration said it will draw up more policies to facilitate the hydrogen energy sector’s high-quality development and to advance technological innovation and industrial growth as well as implement related demonstration projects.

Editor: Kim Taylor