More than 7,800 water conservancy projects are being implemented at an accelerated pace in China with the support of additional bonds issued last year, laying a solid foundation for agricultural production and flood and drought prevention next year.
The Chinese central government issued 1 trillion yuan (about 140.42 billion U.S. dollars) in additional government bonds last year to support the rebuilding of disaster-hit areas and raise the country's disaster relief capabilities, with a focus on financing water conservancy projects.
Over 100 billion yuan (about 14.04 billion U.S. dollars) has been invested in water conservancy projects in the Beijing-Tianjin-Hebei region, which was hit hard by flooding last year. This accounts for one quarter of the investment for all water conservancy projects nationwide financed by additional treasury bonds.
"China is stepping up implementation of water conservancy projects across the country, with a total of 410.94 billion yuan (around 57.71 billion U.S. dollars) being invested in more than 7,800 projects financed by additional government bonds. Over 15 billion yuan (around 2.1 billion U.S. dollars) has been invested in Hubei, Hunan, Anhui, Sichuan and other provinces in the country," said Yuan Hao, an official from the Ministry of Water Resources.
China steps up implementation of water conservancy projects backed by additional bonds
