The Ministry of Water Resources has raised an unprecedented amount of funds for water conservancy development in the first half of this year, as it endeavors to tap the potential of such projects to boost growth amid downward economic pressure, Vice-Minister Wei Shanzhong said. During that time, a total of 748 billion yuan ($111 billion) has been raised for water conservancy development, up by 49.5 percent from the same period last year, he said at a news conference. A total of 444.9 billion yuan has been invested, 59.5 percent more than in the same period in 2021. “The amounts raised and invested both hit record highs,” he said.
To help water conservancy development play its role in maintaining stable macroeconomic performance, the ministry has intensified its endeavors to broaden financing channels for water conservancy development, he said. Aside from increasing government investment, it has strived to enhance financial support, encouraged public-private partnerships and pilot real estate investment trusts to get more capital, he added. About 160 billion yuan of the funds raised was contributed by special bonds issued by local governments.
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