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Overseas Investment Expected in China's Water Supply Projects
An official with the Ministry of Construction said Saturday that China will spare no efforts to attract overseas capital to develop water supply, water saving and sewage treatment projects.
Wang Tianxi, vice-director of the ministry's Urban Construction Department, was speaking at a seminar being held in Ximen, coastal city in Fujian Province as part of the China International Investment and Trade Fair (CIFIT).
The vice director estimated that a total of one trillion yuan (about 120 billion U.S. dollars) is needed to retool China's urban infrastructure. Seventy to eighty percent of this fund is expected to be raised by means of loans, overseas investments and market financing.
"China welcomes direct foreign investment in these large projects," said Wang, adding that joint funding is also encouraged.
He highlighted the progress China has made in the past few years, thanks to preferential loans from international financial organizations and governments.
However, he said that water supply-related infrastructure is still weak. Water shortage is one of the main problems, for instance, he said. Nearly 400 cities out of 669 are reported to have tight water budgets, inefficient water utilization and waste water treatment.
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