China's fixed assets investment in water conservancy hit 362.5
billion yuan (about US$45.31 billion) during the 10th Five-Year
Plan period (2001-2005), equaling the total amount spent between
1949 and 2000, deputy minister of water resources Jiao Yong said in
Beijing on Tuesday.
Speaking at a conference on water resources management, Jiao
said the number of newly-developed projects and the volume of money
invested in water conservancy during the 2001-2005 period were the
largest since New China was founded in 1949.
China has constructed several water conservancy infrastructures
between 2001 and 2005, with the central government having invested
169.5 billion yuan (US$21.46 billion) to these projects, Jiao
said.
The flood prevention capacities of China's major rivers have
been upgraded as a result of the construction of these facilities,
he said.
However, Jiao said the country's water conservation facilities
are far from enough to combat major flooding. This is particularly
true for the many minor rivers.
(Xinhua News Agency October 25, 2006)