Water conservancy construction fund is a special fund for water conservancy construction, which consists of central water conservancy construction fund and local water conservancy construction fund. The central water conservancy construction fund is mainly used for key water conservancy projects related to the overall economic and social development.
The local water conservancy construction fund is mainly used for local water conservancy projects. The governance investment of major water conservancy construction projects across river basins and provinces (autonomous regions and municipalities directly under the Central Government) shall be jointly undertaken by the central and local governments.