On this day 31 years ago, on December 14, 1994 (November 12, 1994 in the lunar calendar), the Three Gorges Project officially started construction. On December 14, 1994, the world-renowned Three Gorges Water Conservancy Junction Project officially started construction. Vice Premier Zou Jiahua presided over the groundbreaking ceremony. Premier Li Peng delivered a speech on "Merit in Contemporary Benefits" at the conference. He said that after 40 years of demonstration, the Three Gorges Water Conservancy Junction Project was approved by the Fifth Session of the Seventh National People's Congress, and nearly two years of construction preparations were carried out. The central government decided to officially start construction of the Three Gorges Project. Li Peng said that the Three Gorges Project is a project with huge comprehensive benefits such as flood control, power generation, and shipping. The Yangtze River flood has always been a worry for the Chinese nation. The middle and lower reaches of the Yangtze River are important economically developed areas in our country. Serious floods have occurred many times in history, causing great losses to the lives and properties of the people in the Jianghan Plain and Dongting Lake areas, as well as important cities, industrial and mining enterprises, and transportation arteries along the river. The Three Gorges Project is a key project among many measures to solve the flood threat in the middle and lower reaches of the Yangtze River. It can not only prevent devastating disasters on both sides of the Jingjiang River, reduce the threat to the Jianghan Plain, Dongting Lake area and Wuhan, but also improve the flood control standards in the middle and lower reaches of the Yangtze River. It is of great significance and far-reaching significance. The Three Gorges Water Conservancy Project is the largest hydropower station in the country and even in the world. It will provide a large amount of electricity for Central China, East China, Sichuan and other regions, and will promote the formation of the national power grid, which will have a huge After the completion of the Three Gorges Project, the high gorge will exit from Pinghu Lake, which will greatly improve the shipping conditions of the Yangtze River. The 10,000-ton fleet will be able to reach Chongqing from Wuhan, giving full play to the role of the golden waterway. After careful planning, the scenic spots and historic sites of the Three Gorges will be protected to the maximum extent, and new landscapes can be formed. The Three Gorges Project and its dam area will become a majestic, green mountains and green waters and beautiful scenic tourist area with a combination of modernization and ethnic style. Tourism in the Three Gorges will be further developed. Li Peng said that the start of the Three Gorges Project will realize the closure of the river in 1997, the first batch of power generation units in 2003, and the project will be completed in 2009. A magnificent Three Gorges Project will stand tall on the land of China, and it will prove to the world that the Chinese people have the ambition and ability to build the largest water conservancy and hydropower project in the world today. The success of the Three Gorges Project is in the future. The Three Gorges Project started in 1993 and was completed in 2009, with a construction period of 17 years. The demand for project funds is large, and the static investment at the price level at the end of May 1993 is 90 billion yuan. In the 11th year (2003) of the project, the first unit generated electricity and began to have capital income. In the 13th year (2005), it was the year of fund balance, so the fund raising was mainly in the first 13 years. The dynamic capital demand before the fund balance was 146.80 billion yuan. The main channels for raising funds for the Three Gorges Project are, first, the Three Gorges Project Construction Fund, which increases the price of electricity per kilowatt-hour by 4% nationwide, and second, the profits of the Gezhouba Power Plant, which can solve about 50% of the capital needs before the balance of funds. The power generation profit of the Three Gorges Power Plant from 2003 to 2005 can be solved by about 7.5%, and the loan to the China Development Bank can be roughly solved by 17%. It is possible to win export credit for major equipment of about 600 million US dollars, accounting for about 4.5%.