EPC mode is funded by the contractor. EPC, that is, engineering program construction, refers to the process that an enterprise contracts the design and construction of a project according to the contents of the contract signed by the owner. Enterprises should be responsible for the project not only during the construction process, but also after the completion of the project. On August 28th, 2020, the Ministry of Housing and Urban-Rural Development, China Banking Regulatory Commission and other departments jointly issued an announcement, pointing out that it is necessary to vigorously promote the general contracting mode, promote the deep integration of multiple projects in China, and better protect the rights and interests of the general contracting units.

Advantages of EPC general contracting mode

1. The general contracting mode emphasizes the role of the design stage in the project. The design stage is the leading stage of the project construction, and the contractor must pay attention to it and constantly optimize the scheme during the design stage;

2. The general contracting mode is conducive to the mutual connection of the design and construction stages of the project, which makes the progress of the project better promoted;

3. The general contracting mode has a clear responsibility subject, and the project can be clearly accountable for problems.