Abstract: The resource endowment, grid structure and supply-demand situation in different regions of China are quite different. The construction of electric power market needs to combine local actual conditions and draw on foreign advanced experience to design appropriate market systems and mechanisms. As one of the countries with the most abundant hydropower resources in the world, Brazil’s market mechanism design has achieved remarkable results in ensuring power supply reliability and improving the utilization efficiency of hydropower resources, which provides reference for the construction of power market in hydropower-rich regions of China. As the first part of a series of papers on Brazilian electricity market research, the current status of the Brazilian power industry, the motives and processes of market-oriented reforms as well as the management structure and functions of the power industry were introduced firstly. Then the trading mechanism of the Brazilian electricity market current model and the intrinsic connection of different trading varieties, new production/commissioned power auction mechanism, mediumterm and long-term trading contract as well as power system scheduling were discussed in detail. Finally, the latest development trend of the Brazilian power market was analyzed. On this basis, the internal logic of the structure and institutional mechanism of the Brazilian electricity market compared with the electricity markets of the United States, Northern Europe and United Kingdom will be analyzed in sequel paper. It’s design concept and adaptability will be studied and the experience of market construction will be summarized.