China to Invest $300bn in Water Projects

China is to invest CNY2trn ($303.8bn) over the next five years in building water-related infrastructure projects and improving the quality of rural drinking water.

The Chinese Government will allocate more than CNY20bn ($3bn) of the funds into the construction of key projects in 2011.

China plans to extend access to safe drinking water to an additional 60 million people in rural areas of the country and to repair dams.

China is aiming for 77% of the rural population to have access to drinking water by the end of the year.

The country has provided CNY700bn ($106bn) for water projects over the last five years, according to Reuters.