China aims to attract more foreign and private capital to boost the development of its water-saving industry, setting an ambitious goal of expanding its value to a trillion yuan ($140 billion) by 2027, according to a recent guideline.

The vision includes cultivating several industry leaders valued in the tens of billions of yuan by 2035, and elevating water-saving technologies, equipment manufacturing and management services to a globally advanced standard, the document said.

Jointly published by five national government bodies, including the National Development and Reform Commission, the guideline encourages regions across the country to develop water conservation industry clusters with regional characteristics, based on their own needs and advantages.

In areas with strong innovation and manufacturing capabilities, intensified efforts will be made to promote the vigorous development of industrial clusters for manufacturing water-saving equipment, it said.

In arid regions of Northwest China, the primary focus will be on enhancing water-saving irrigation practices and advancing the production of related equipment, it continued. Meanwhile, industrial development in areas with abundant precipitation in southern China and regions with a high concentration of water-intensive industries along the Yellow River will prioritize water storage and flood control, and industrial water-saving transformations, respectively.

Research institutions and high-tech enterprises are encouraged to participate in international water-themed events, offer consulting, construction and operation management services for water conservation projects abroad, and support the Belt and Road Initiative's high-quality development goals.

The guideline also vows enhanced efforts to tap the potential of applying reclaimed and desalinated water in some high water-consuming industrial sectors such as thermal power, steel, textiles, papermaking, petrochemicals and chemicals.

China faces severe water scarcity, with per capita water availability at only 2,200 cubic meters, just one-fourth of the world average. The uneven spatial and temporal distribution of water resources exacerbates shortages in some areas, particularly in northern regions.

Against this backdrop, Zhang Deyuan, an associate research fellow at the Chinese Academy of Macroeconomic Research, has emphasized the significance of water conservation, given the increasing demand for water in both the industrial sector and people's daily lives.

The country's push to promote the growth of the water-saving industry and broaden the availability of efficient water-saving products and equipment will enable businesses and residents to improve water-use efficiency, aligning with the rising water needs accompanying industrial expansion and enhanced quality of life, he said.

In another move to enhance water conservation, the country implemented its first national-level regulations on the issue starting from May 1.

According to the Ministry of Water Resources, it will strive for a 13-percent reduction in water consumption per unit of GDP and a similar decrease in water consumption per unit of industrial added value this year, compared to 2020 levels.