The Research Of Overseas Investment About Chinese Power Enterprises On The Basis Of Global Energy Interconnection Construction

With the deep integration of global economy and the increasing upgrade of energy demand for human being,electric power seems to have the greatest development potential which can best solve the paradox between energy demand of human being and environment pollution.Electric power is one of the basic elements for economic development,which is the precondition for development of industry,business and manufacturing.The demand for electric power is growing all over the world with the rise of emerging economies.To reconstruct the world power supply pattern or to solve the problem of world energy supply has been put on the agenda of world sustainable development.Chinese electric power industry develops quickly these years,refreshing the standard of electric power industry.China has built its professional team which has solved the problem of electricity long-distance transmission and launched many projects around the world.Global Energy Interconnection Development & Cooperation Organization(GEIDCO)published the White Paper of Global Energy Interconnection Development Strategy on 2nd Feb.2017,presenting the route of constructing the Global Energy Interconnection:state interconnection,continent interconnection and global interconnection.GEIDCO,an international organization which was founded in China,whose ideas and development path,will has new influences and platform for Chinese power enterprises’ going global.The paper will take the construction of the Global Energy Interconnection as the background and conduct research on the “going out” of Chinese power companies.At the beginning,The paper details the oversea investment theories of developing countries that support the writing of this paper,giving the background on which the GEIDCO proposed to build Global Energy Interconnection.Then it turns to the present situation and features of Chinese power enterprises’ oversea investment,explaining the advantages and disadvantages of the oversea investment.On this basis,the cooperation potential and investment risks of “going out” of Chinese power companies are described.In the empirical analysis,the paper focus on the influence of investment motivation and investment environment on the "Going Global" investment model of Chinese electric power enterprises.It comes to the result that technique factor affect most when Chinese power enterprises invest abroad.Besides,when investing in the wealthy and well-governed countries,the enterprises prefer to choose asset acquisition.Meanwhile,there are several empiricalresults that goes to the opposite of the forecast.Through the case analysis,the paper primarily discussed a successful and referential mode of Chinese power enterprises’ future oversea investment—ultra-high voltage power transmission +equipment export+engineering contract and operation.After the above analysis,this paper proposes the measures for the “going out” of Chinese power companies from the government level and the corporate level respectively.At last,the paper gives some outlook of Chinese power enterprises’ oversea investment research on the basis of deficiency of this paper,so that some theories could be established to support Chinese power enterprises’ oversea investment.