China has seen expanding investment in water conservancy infrastructure in the first half (H1) of this year as the country steps up efforts to bolster economic growth, reports Xinhua.
From January to June, the country’s water conservancy projects investment totaled 444.9 billion yuan (about 66.29 billion U.S. dollars), up 165.9 billion yuan, or nearly 60 percent, over 2021, according to the Ministry of Water Resources.
The country initiated some 14,000 new water conservancy projects in H1, including 750 projects, each with an investment of more than 100 million yuan.
A meeting in June jointly held by the People’s Bank of China and the Ministry of Water Resources said water conservancy projects could help absorb large investments and create intensive jobs in the short term. It could also safeguard food security, facilitate green development, and relieve natural disasters in the long run.
China is expected to complete investments worth more than 800 billion yuan in water conservancy construction in 2022.