The composite load model with an induction motor in parallel with a static load has been studied and applied in analysis of dynamics of power systems for a long time. However, the load parameters from field tests are still very limited. Based on the theoretical results of identifiability and estimation methodology of load parameters that have been achieved in the previous work, a project of load modelling based on field measurements is described. Eight sets of equipment for load modelling were installed in HeNan Electric Power Grid (HNEPG) Corporation, and the dynamics of the load were recorded and a dynamic index is proposed to evaluate the dynamic characteristics of the data measured. The load models derived from the field measurements are applied to stability analysis of HNEPG. The critical clearing time and power transfer capability analyses illustrate the enhancement of the stability analysis of the power grid using the load parameters derived from the field measurements and show the benefits of application of such model parameters in power system dynamic analysis.