Upon the approval of the State Council, China Yangtze Three Gorges Project Development Corporation (CTGPC) was formally established on Sep. 27, 1993 in Yichang, Hubei Province in order to construct the Three Gorges Project and develop Yangtze River.

CTGPC is a state-owned enterprise which is responsible for its own profits and losses, and has the position of legal person. CTGPC is the owner of the Three Gorges Project, who will be fully responsible for the project construction, fund raising and loan repaying, as well as the operation administration after the construction. GeZhouBa Hydropower Plant is its subsidiary. As the owner of Three Gorges Project, China Yangtze Three Gorges Project Development Corporation will better administrate its construction and operation with mechanism of socialist market economy. The project administration will use the mode of responsibility taking by project owner, contract awarding by bidding, construction supervision and contract management. The procurement of materials and equipment for project construction use the method of combining the uniform purchasing by state plan and purchasing by bidding. Applying the contract awarding by bidding is for the purpose of introducing the competition to choose the best civil engineering contractor for construction and procure the materials and equipment with best price and quality via public bidding, fair competition, justified evaluation. During the construction the contract administration, project construction supervision are strictly implemented, project quality, schedule and cost are strictly and perfectly controlled, for the purpose that the project construction will get best economic profits.

The Corporation will also be engaged in the development of hydro resources along the Yangtze River, carry out the research and technical consultancy in water conservancy and hydropower science, and other various operation activities. After the completion of the Three Gorges Project contruction, CTGPC will own 20915 MW installation capacity and the annual electricity output is 100 TWH. The gigantic economic profits enable China Yangtze Three Gorges Project Development Corporation to repay off all the debts arising from the construction of Three Gorges Project. After the completion of the project construction, CTGPC will continue to further develop water resources of the stream and branches at the upstream of Yangtze River by constructing XiLuodu, XiangJiaBa and a series of other huge hydro power stations in order to accelerate harnessing and developing the Yangtze River.