Joint funds seek to protect water supply

Guangdong province is looking to protect its vital drinking water resources by setting up two joint funds worth 1 billion yuan ($153 million) with its neighbors.

The populous economic hub has signed agreements with Fujian province and the Guangxi Zhuang autonomous region to build an eco-compensation system to manage transprovincial waters.

At a news conference jointly held by the Finance Ministry and Environmental Protection Ministry in Fujian last week, it was agreed that Guangdong and Guangxi would each put 300 million yuan into one joint fund, while Guangdong and Fujian will each put 200 million yuan into a second.