China invests 364.7 b yuan in irrigation and water conservation

China invested a total of 364.7 billion yuan ($ 58.7 billion) on irrigation and water conservancy projects between October and March, the Ministry of Water Resources said, as authorities seek to further boost the country's agricultural infrastructure.

The total investment volume was up by 7.8 percent compared with the same period last year, according to the ministry.

Ni Wenjin, deputy director with the ministry's department of irrigation, drainage and rural water supply, said the ministry is looking to further speed up the irrigation and water conservancy projects to ensure the country's grain safety.
"We will also look to further diversify the funding channels for the irrigation and water conservancy projects, and encourage social capital to take part in the investment process," he told a news conference on Tuesday.

The country has added more than 620 million irrigated hectares of farmland since 2011. The ministry has already named 2450 counties nationwide as key areas for new irrigation and water conservancy projects, he said.

The investment in water conservation projects is among the key investment programs to boost economic growth in the Government Work Report by Premier Li Keqiang in this year's parliamentary session.
 
The country is targeting a total investment volume of 800 billion yuan in major water conservation projects this year, with 27 major water conservancy projects expected to commence construction this year.