China's new five-year energy plan elevates green hydrogen, ammonia and methanol as a means to bolster energy security and reinforce China's lead in low-carbon technology. Beijing frames the push as a trade of the country's abundant wind, solar and biomass for imported oil. The signals are expected to unlock heavy investments in the coming years, led in part by state-owned giants and coastal bunkering hubs. But as Beijing prioritizes production over demand-side measures, industry insiders warn that new plants could be built without a clear market.