As a national strategy, the Belt and Road is a grand blueprint for our economic internationalization. How the construction machinery manufacturing and deep foundation engineering industries can leverage this national development strategy and seize the momentum is an important topic that requires continuous study and reference. Many enterprises see the Belt and Road as ambitious, yet achieve little in implementation. Of course, there are also many successful practitioners, and as China's largest clean energy group, China Three Gorges Corporation is one of them. When talking about how to pursue the Belt and Road dream, Lu Guojun, Chairman of China Three Gorges International, said——

     　To pursue the 'Belt and Road' dream, one must be brave in exploring and practicing international business. Without trying, there will be no breakthrough. Lu Guojun said that China Three Gorges Corporation (hereinafter referred to as 'Three Gorges Group'), with the vision of building a world-class clean energy group, earnestly implements the national 'Going Global' strategy, actively participates in global hydropower resource development, and proposes the development goal of building an 'Overseas Three Gorges'. In the process of carrying out international business, Three Gorges Group, centering on the 'Belt and Road' development strategy, proactively promotes international capacity cooperation and extensively participates in overseas energy cooperation through greenfield investment, equity acquisition, and engineering contracting. Three Gorges Group started international business early. Its wholly-owned subsidiary, China International Water & Electric Corp., has been contracting in Pakistan since the 1960s and has completed 37 projects with a cumulative contract value of US$1.5 billion. Currently, it is investing in and developing the Karot Hydropower Station, Kohala Hydropower Station, Mar Hydropower Station, and related wind power projects within the framework of the China-Pakistan Economic Corridor, with a total installed capacity of about 3 million kilowatts. Among them, the key implemented Karot Hydropower Station, Kohala Hydropower Station, and Phase II Wind Power Project have been included in the China-Pakistan Economic Corridor framework and elevated to the level of national cooperation.

    　Continuous exploration and practice in international business have enabled Three Gorges Group to initially form four major international business segments in the overseas clean energy field: investment, construction, operation, and consulting.

   　 To pursue the 'Belt and Road' dream, one must carry out market layout for international investment projects. Lu Guojun introduced that Three Gorges Group has made active exploration and practice in international business. The overseas business layout of Three Gorges Group is highly consistent with the national 'Belt and Road' strategy. 'Belt and Road' construction prioritizes infrastructure, and power construction is the forerunner of infrastructure. Countries along the 'Belt and Road' all have strategic aspirations to accelerate economic development, adjust industrial structure, and prioritize the development of power energy, especially hydropower energy. Within the framework of the national 'Belt and Road' strategy, Three Gorges Group fully utilizes the first-mover advantage of existing markets and its accumulated comprehensive advantages to adjust and layout key markets within the 'Belt and Road' region.

    　Currently, Three Gorges Group has 40 projects in 20 countries along the 'Belt and Road', with a total contract value of US$6 billion. According to the plan, after 2020, the projects of Three Gorges Group in countries along the 'Belt and Road' will have a total installed capacity equivalent to half of the Three Gorges. The market positioning of overseas investment projects determined by Three Gorges Group is: first, the clean energy market in developed countries in Europe and America; second, markets in neighboring countries with conditions for connectivity with China and rich hydropower and new energy resources; third, greenfield project markets in Africa and Latin America with abundant hydropower resources in famous rivers. Among them, in developed countries in Europe and America, we focus on investment business in the new energy market; in countries along the 'Belt and Road', we focus on developing areas rich in hydropower resources.

   　 The '13th Five-Year Plan' development plan of Three Gorges Group is: by 2020, the group will have controllable and equity power generation installed capacity and projects under construction totaling 24.5 million kilowatts, achieving the strategic goal of 'building an overseas Three Gorges'.

   　 To pursue the 'Belt and Road' dream, one must promote the 'Going Global' of Chinese standards, Chinese technology, and Chinese manufacturing. Lu Guojun pointed out that overseas, we must not only do our own international business well but also 'go global together' with domestic enterprises, driving the export of China's production capacity and equipment manufacturing, while also helping the project locations accelerate development, fill industrial gaps, and strive to create an upgraded version of China's 'Going Global'. For China's advantageous industries to 'go global', they must not only master core technologies but also have a platform to showcase them. The projects developed and constructed by Three Gorges Group overseas provide such a platform.

   　 Three Gorges Group actively joins hands with domestic enterprises in hydropower construction, equipment manufacturing, design consulting, and related industries to form a 'Chinese Alliance', sailing in formation for mutual benefit and win-win results. The Murum Hydropower Station in Malaysia was implemented by Three Gorges Group in conjunction with relevant domestic units for engineering design, procurement, and construction general contracting, setting a new benchmark and model for China-Malaysia hydropower cooperation. During the construction of the Kaleta project in Guinea, Three Gorges Group held in-depth discussions and sincere communication with the owner, making the project contract clearly stipulate that all engineering content such as the Kaleta Dam project and access roads follow Chinese technical standards. Through the successful implementation of the project, the owner and related parties became familiar with China's hydropower specifications and recognized that 'Three Gorges Standards' are synonymous with high quality.

    　As China's construction standards 'go global', China's hydropower industry equipment has also gone abroad. The Moinak Hydropower Station in Kazakhstan and the Nam Ngum 3 Hydropower Station in Laos use turbines produced by Harbin Electric Machinery Factory; the Karot Hydropower Station in Pakistan uses turbines produced by Dongfang Electric Machinery Factory; most of the permanent electromechanical equipment and materials for the Kaleta project are procured from China. Statistics show that more than 30 Chinese enterprises participated in the implementation of the Kaleta project in Guinea, comprehensively covering all links of the hydropower industry chain. The project drove China's electromechanical equipment and materials exports of more than 500 million yuan and about 600 million yuan of construction equipment and materials exports.

    　During the development and construction of projects such as Upper Atbara in Sudan and Souapiti in Guinea, Three Gorges Group adhered to cooperation with Chinese enterprises, continuously driving the entire Chinese hydropower industry chain—including motor manufacturing, unit maintenance, power station operation, and cascade dispatch—to go global together. After Three Gorges Group invested in Portugal's EDP in 2011, it further drove domestic design, construction, and equipment enterprises in the industry chain to 'sail in formation', forming a 'Going Global' model of complementary advantages, mutual benefit, and common development for Chinese enterprises.

   　 Lu Guojun said that with the expansion of Three Gorges Group's overseas investment business scale and the further development of international contracting projects, in the future, it will further give full play to the leading role of investment and continue to play a driving role in the export of China's production capacity and equipment.

　　To pursue the 'Belt and Road' dream, one must earnestly summarize effective practices and experiences. Regarding the implementation of the Belt and Road, Lu Guojun introduced that in years of international business, Three Gorges Group has accumulated its own experience and insights, mainly including:

　　First, proactively serve the national strategy, actively respond to the national 'Going Global' policy, fully leverage Three Gorges Group's own advantages, and join hands with upstream and downstream enterprises in the industry to go global together, effectively avoiding disorderly competition among Chinese enterprises in the international market, enhancing the overall competitiveness of China's hydropower industry abroad, better driving the 'Going Global' of Chinese standards and technical equipment, improving the overall efficiency of the hydropower industry, and achieving shared benefits and risks. Second, formulate practical medium- and long-term development plans, scientific evaluation mechanisms, and efficient decision-making systems. Third, during the '12th Five-Year Plan' period, Three Gorges Group formulated the '12th Five-Year Plan' development plan targets for international business based on the situation of international business development and determined the priority order of project development. It established an investment management system and WACC value standards, setting different investment return rates according to different project risks. It established corporate governance systems such as the Investment Demonstration Committee, General Manager's Office Meeting, Party Group Meeting, and Board of Directors, regularly holding decision-making meetings to study and decide on major projects, forming a scientific and efficient decision-making system and providing institutional guarantees for the rapid and sound development of the group's business. Third, actively fulfill social responsibilities and develop together with local communities. Three Gorges Group actively practices the development philosophy of 'build a power station, drive a local economy, improve an environment, and benefit a group of migrants'. As the implementation entity of Three Gorges Group's 'Going Global', Three Gorges International proactively fulfills social responsibilities locally, promotes coordinated development between the enterprise and local society, always places environmental protection in a prominent position, actively cooperates with public welfare organizations such as The Nature Conservancy, fully respects local customs, cultural traditions, and religious beliefs, and carries out targeted assistance activities such as road construction, school construction, and disaster relief, generating widespread influence and brand effects locally and winning a good reputation.

　　In addition, extensively carry out international exchanges and cooperation to enhance the brand image of China's hydropower. For a long time, Three Gorges Group has actively carried out exchanges and cooperation with the International Commission on Large Dams and river basin management agencies, broadening its international perspective. While introducing advanced world concepts and practices, Three Gorges Group also actively promotes Chinese standards globally, focusing on the alignment and integration of Chinese hydropower standards with world standards. At present, the completed and operational Murum Hydropower Station project in Malaysia, the under-construction Souapiti Water Conservancy Hub project in Guinea, the Santa Elena Water Conservancy Project in Ecuador, and the 500KV transmission and transformation project in Laos are all constructed according to Chinese standards, enhancing the image of the group and China's hydropower brand.

                                              　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 By Wu Yue