Abstract: The Global Energy and Water Exchanges (GEWEX) is a world research project established by the International Council for Science (ICSU) and the World Meteorological Organization (WMO) for the purpose of studying climate anomaly, developing long-term forecast, disaster prevention and mitigation, and ensuring food production. The project is dedicated to understanding Earth’s water cycle and energy fluxes at, and below the surface and in the atmosphere. Since the 1980s, GEWEX has been experienced three stages. The main contents and achievements of the first and second stages of the project are summarized. And then the four major scientific problems to be solved in the current stage (the third stage) and the seven key research fields are clarified. The Huaihe River Basin energy and water cycle experiment (HUBEX, 1998-2000) is a meteorological and hydrological joint scientific experiment carried out in the first stage of GEWEX Asian Monsoon Experiment(GAME) in the subtropical and semi humid region of East Asia. The report summarizes the achievements of HUBEX, affirms the scientific significance of these achievements, and points out the development needs at the present stage. Based on the comparison of the four major scientific problems to be solved and the seven major research fields to be focused on by GEWEX at the present stage, combined with the current situation of Huaihe River Basin, suggestions and thoughts are put forward for the second Huaihe River basin energy and water cycle experiment (HUBEX 2).