The article discusses some of the major characteristics and trends of China’s economic expansion in the global power industry. It argues that by investing in electricity infrastructure China creates prerequisites for long-term dominance in one of the key sectors in a number of countries and regions. Deals in the power sector are mainly implemented by state-owned companies and facilitated by state-owned financial institutions. In terms of structure and geography, foreign investment in the electricity sector is dominated by traditional types of generation in developing countries. However, China has been diversifying into renewables, nuclear power and grids and entering markets of the developed countries. The creation of a special international organization (GEIDCO) should facilitate its expansion in the electricity sector abroad. It is worth noting that foreign economic expansion plays an important role in supporting China’s slowing economy amid the transformation of its growth model. It allows China to adopt advanced technologies and best management practices in developed countries while forming alternative value chains, as well as promoting its own equipment and standards (especially in ultra-high voltage power transmission) in the developing countries. However, given the impact of the trade war, increasing securitization of the Chinese foreign investments, Chinese authorities’ control over capital outflows and the rising environmental concerns in developing countries, further expansion of the Chinese capital in the global electricity industry is likely to be held back, while competition from non-Chinese electricity companies is likely to grow.
NUCLEAR POWER PLANTS CONSTRUCTION IN DEVELOPING COUNTRIES AS A LEADING DIRECTION OF RUSSIA'S FOREIGN ECONOMIC INTERESTS IN THE GLOBAL CONSTRUCTION SERVICES’ MARKET IN THE GLOBALIZATION CONTEXT