Abstract: Cases serve as core carriers in engineering ethics education. To develop the high-quality localized teaching cases is a pivotal task for advancing the connotative development of engineering ethics education. As a milestone in the water conservancy history of New China, the ethical value of the Hongqi Canal Project demands systematic elaboration. By deconstructing the project's interest ethics and responsibility ethics, it uncovers the ethical wisdom embedded in the Hongqi Canal case-specifically its role in promoting individuals' all-round development, realizing social justice, and harmonizing human-water relationships. Research findings indicate that the Hongqi Canal Project, anchored in the collaborative decision-making mechanism of "Party leadership-Technical support-Mass innovation", has reconstructed the decision-making ethical paradigm for water conservancy projects through the value hierarchy of "Survival Ethics Prioritization". It further constructs a three-dimensional responsibility ethics system encompassing political guarantee, technical embodiment, and intergenerational extension, while its vertical-horizontal dual-coordination mechanism offers a Chinese solution to solve the dilemmas of engineering interest ethics. This case provides a localized model for the ideological and political reform of engineering ethics courses, and holds significant implications for inspiring students' sense of mission to "serve the nation through engineering" and nurturing new engineering talents with both and global perspectives.