Core Insights - The construction of China's national water network has made significant progress since the start of the 14th Five-Year Plan, with an expected coverage rate of 80.3% by the end of this year [1][2] Group 1: Water Resource Allocation - The "South-North Water Diversion" project has transferred over 83 billion cubic meters of water, benefiting 195 million people in 48 major cities along the route [1] - The water transfer capacity of the South-North water diversion channels has reached 81.9 billion cubic meters, while the East-West diversion channels have a capacity of 73.4 billion cubic meters [1] Group 2: Major Projects and Investments - Since the beginning of the 14th Five-Year Plan, 15 major water diversion projects have been initiated, including the South-North Water Diversion Middle Line and the Jiangsu-Hubei Water Diversion [1] - A total of 12 major water diversion projects have been completed, with 34 out of 40 planned key water transfer channels either built or under construction [1] - Investment in water conservancy construction is projected to exceed 5.4 trillion yuan during the 14th Five-Year Plan, which is 1.6 times that of the 13th Five-Year Plan [2]

Core Viewpoint - The Chinese government is accelerating the construction of major water conservancy projects to enhance water resource allocation and supply security, as outlined in the recent policy document on river protection and governance. Group 1: Major Water Projects - Since 2022, 12 major water diversion projects, including those in the Pearl River Delta and the Yangtze River, have been completed, adding an annual water diversion capacity of 124.8 billion cubic meters [1] - New projects, such as the North Bay Water Resource Allocation and the Jilin Water Network, are expected to add another 142.3 billion cubic meters of annual water diversion capacity upon completion [1] Group 2: Reservoir and Flood Control - 24 large reservoirs, including the Xijiang Datiangxia and Xinjiang Dashimen, have been completed, increasing water supply capacity by 34.6 billion cubic meters and flood control capacity by 26.6 billion cubic meters [3] - New flood control and key water source projects, including the Yellow River Guxian, are projected to add 49 billion cubic meters of water supply capacity and 36.7 billion cubic meters of flood control capacity [3] Group 3: Policy and Funding Support - The South-to-North Water Diversion Project has delivered over 800 billion cubic meters of water, benefiting 185 million people, and is crucial for optimizing water resource allocation and ensuring drinking water safety [5] - The National Development and Reform Commission (NDRC) is increasing support for major water projects, with an average increase of 20 percentage points in central investment support for new medium-sized irrigation and water diversion projects [7] Group 4: Integrated Infrastructure Development - The NDRC and the Ministry of Water Resources are focusing on the integration of flood control projects with irrigation and high-standard farmland construction to maximize comprehensive benefits [9]