From Scientific American:

The Chinese government is expected to spend about 200 billion yuan ($30.10 billion) on water conservation projects in 2011, a tenth more than in 2010, the state-run China Daily reported on Saturday.

Priority will be given to improving irrigation to ensure grain security and projects to combat drought and floods, the newspaper said.

"Over the next 10 years, Chen said he hopes the country can double its current average annual investment in water conservation construction," it said.

The government has invested about 700 billion yuan on water conservation over the past five years, the newspaper said.

China to spend $30 billion on water conservation in 2011