One Tenth of Land Sales Goes to Water Conservancy

Local governments must use 10 percent of their land sales revenues for the creation of water conservancy projects as of July 1, according to the Ministry of Finance and the Ministry of Water Resources. The move is in line with the central government's efforts to boost the construction of water conservancy infrastructure in rural areas, as inadequate irrigation facilities have affected agricultural production and undermined food security. The funds will tilt in favor of the country's major agricultural areas. Provincial-level authorities have the right to decide how they will allocate funds for development projects in their jurisdictions. Local governments must establish related accounting and monitoring systems that effectively counter misappropriation. China plans to invest RMB 4 trillion in water conservancy over the next 10 years in order to harness its numerous rivers and lakes.