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On the Gobi, a Patient 9-Billion-Yuan Life Insurance Investment Grows​

by hangzhi12

Once described by locals as a barren land where nothing grows and winds blow stones, the plateau of Gonghe County in Hainan Tibetan Autonomous Prefecture, Qinghai, has undergone a remarkable transformation. At an altitude close to 3000 meters, this area no longer resembles the wind-swept desert it once was.

A Sea of Solar Panels Brings Life to the Land

Looking down from above, one sees endless rows of deep blue photovoltaic panels stretching across the landscape. By late June, while the wind remains strong, the ground beneath these panels is no longer bare or cracked; instead, grass with distinct edges flourishes under the panels. The short hum of motorcycle engines signals the presence of herders moving through the solar arrays. From beneath the panels, you can see flocks of black-headed white sheep grazing contentedly on the lush grass.

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Initially, the gigawatt-scale Gonghe Photovoltaic Park was intended solely for converting abundant sunlight into green electricity. Unexpectedly, the construction of the photovoltaic power station helped restore vegetation that had disappeared due to overgrazing, allowing herders to graze their livestock without affecting power generation and providing them with a stable income.

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Patient Capital Behind the Transformation

Behind this highland success story lies “patient capital.” In late 2019, China Life undertook a 9 billion yuan equity investment project in Qinghai Huanghe Hydropower Development Co., Ltd. (hereinafter referred to as “Qinghai Huanghe Company”). One of its main projects, the Hainan Prefecture Ecological Photovoltaic Industrial Park in Qinghai, stands out as a model of coordinated development in green energy, ecology, and people’s livelihoods.

The Qinghai Huanghe Company project is merely a snapshot of China Life’s broader investment efforts supporting livelihood improvements.

Starting from the Yellow River

Driving southwest from Xining for two hours, passing through grasslands, deserts, and half-bald mountains, one arrives at the steep-walled Longyangxia Gorge. Here, the vast expanse of emerald-green water appears almost too clear to be the Yellow River.Most first-time visitors find it hard to believe that this water comes from the Yellow River. Its incredible clarity and nearly imperceptible current contrast sharply with the muddy, tumultuous river known elsewhere.

This stark difference is partly because this section is upstream, where sediment levels are naturally lower, and partly due to the towering Longyangxia Hydropower Station standing in the gorge.Known as the First Dam of Ten Thousand Miles Yellow River, this dam stands 178 meters high and spans 1226 meters, intercepting flows from a 130,000 square kilometer watershed, forming a reservoir with a total capacity of 24.7 billion cubic meters—equivalent to 1700 West Lakes in Hangzhou. It effectively flattens a 200-meter drop in the riverbed, taming the Yellow River and controlling downstream flow based on flood control or irrigation needs.

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Longyangxia: A Catalyst for Change

According to staff, besides regulating water year-round, as the first cascade hydropower station on the Yellow River mainstream, Longyangxia has transformed Qinghai’s reliance on the Northwest Power Grid, marking a significant step toward achieving self-sufficient power supply and even supplying back to the grid. With an annual average power generation of 6 billion kWh, Longyangxia represents Qinghai’s first stride towards energy independence.If Longyangxia marks the beginning of Qinghai’s journey towards energy self-reliance, then Laxiwa Hydropower Station, located about 30 kilometers further downstream, signifies a major leap forward.

Laxiwa: An Advanced Node in Qinghai’s Power Network

As one of the newest hydropower stations on the Yellow River mainstream, Laxiwa boasts a total installed capacity of 4.2 million kW and an annual average power generation of 10.2 billion kWh—the highest among Yellow River hydropower stations. Designed for flexible peak load adjustment, Laxiwa primarily handles peak load regulation, frequency modulation, and emergency backup tasks for the Northwest Power Grid. Described by station personnel as the “stabilizing needle” for the 750 kV grid structure, Laxiwa also serves as a critical backbone power source for the Northern Channel of the West-to-East Electricity Transmission Project.

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