Water conservancy used to bolster economic growth

The Ministry of Water Resources has made marked progress in increasing funding channels for water conservancy development as it endeavors to tap the potential of such projects in boosting economic growth, said Vice-Minister Liu Weiping on Wednesday.

As of the end of August, the ministry has this year managed to raise 977 billion yuan ($140 billion) for water conservancy development, compared with 648 billion yuan in the same period last year, he told a news conference.

The vice-minister highlighted the achievements the ministry had made in raising funds from government bonds, bank loans and private capital.