Water conservancy

For some, the "highest-profile conference on water conservancy" that ended last Saturday was a precious boost to the lackluster stock market. There was an immediate upsurge - many described it as a "blowout" - of water-related stocks.

That a meeting on water conservancy was held in the name of the Central Committee of the Communist Party of China (CCCPC), and with every standing member of the CCCPC Political Bureau present, was indeed unprecedented. There is no better way to demonstrate how concerned the national leadership is about the matter.

Added to this is the extraordinary financial commitment that has been made. The country is expected to invest at least 400 billion yuan ($61.8 billion) a year in the next decade to upgrade irrigation works. That is a lot more than a one-time stocks booster.