In the first half of 2026, China launched 25 major water conservancy projects, including the Three Gorges New Waterway and Liaodong Peninsula water allocation scheme, while completed water conservancy investment reached RMB515.1 billion. The national water network now covers 80.3% of the country's land area, with 35 of 40 planned backbone channels and 473 of 588 key storage nodes built or under construction. Annual investment has exceeded RMB1 trillion for four consecutive years since 2022. Flood control, irrigation and regional water supply projects advanced, with 387 million mu of farmland drained during flood season. Irrigated land contributed 88.11% of summer grain output.
As of August 2, 2026, local government bond issuance totaled approximately RMB 6.61 trillion, including RMB 2.41 trillion of new special bonds. This represents 55% of the annual quota of RMB 4.4 trillion, below the 63.1% pace in the same period of 2025. Guangdong led with RMB 287.025 billion, followed by six other provinces. The Politburo has urged faster use of fiscal funds and bond proceeds.