Treasury bonds issued to restore water projects

China has issued additional treasury bonds as it strives to restore and strengthen water resources management projects devastated by floods last year, according to an official of the Ministry of Water Resources.

Chen Min, vice-minister of water resources, made the remarks in a news conference organized by the State Council Information Office on Friday.

The joint efforts of the National Development and Reform Commission and the ministry aim to tap into the potential of the bonds in accelerating the construction of water resource management projects. So far the efforts have seen 1,488 projects launched, he said.

To date, more than 29.3 billion yuan ($4.1 billion) has been invested in these projects, he added.

The vice-minister said a total of 5,542 projects to restore water resource management facilities have been launched across the country, and 4,558 of them have been completed.

Devastating floods hit the Haihe River Basin and the Songhua River Basin during flood season last year, leaving many projects for flood control severely damaged.