Guideline calls for more efforts to attract private capital for water-saving industry

China aims to attract more foreign and private capital to boost the development of its water-saving industry, setting an ambitious goal of expanding its value to a trillion yuan ($140 billion) by 2027, according to a recent guideline.

The vision includes cultivating several industry leaders valued in the tens of billions of yuan by 2035, and elevating water-saving technologies, equipment manufacturing and management services to a globally advanced standard, the document said.

Jointly published by five national government bodies, including the National Development and Reform Commission, the guideline encourages regions across the country to develop water conservation industry clusters with regional characteristics, based on their own needs and advantages.