Government to Invest More in Water Conservation Projects
China will be speeding up its water conservation projects and tackle the water shortage and further bolster a wider economic growth. As the country is set to launch a 172 key water conservation projects for the coming years together with the projects that are already on the way which is worth 600 billion yuan.
Premier Li Keqiang said during a visit to the Ministry of Water Resources that water conservation is an important investment in urban renovation and railway construction, Li said that they will be prioritizing central and western regions that will address water issues including diversion projects, irrigation and reservoirs. This will not only conserve water but attract investment, improve income of rural dwellers, boost employment, and possibly stabilize economic growth. All of the water projects that are already under construction or at the discussion stage should be speed up in a bid to provide a sustainable drive for growth.
All projects have significant influence on water use, food security, environment, fight poverty and drive growth. Li said that the water conservation is a sign of equal significance and an urgency for railway construction and renovation of rundown urban areas that are seen as a quick and effective tool in weathering a economic downturn. Li also hoped that there will be more government funding and favorable policies for these water conservation projects and also hoped that a market will play a larger role and create a new financing mechanism that will encourage private capital to invest in these projects.