Water conservancy investment and financing

fueled by both government and market forces

have achieved initial success but remain insufficient to meet the demands of high-quality development of the sector. This study examines the current status

policy development

and practical explorations of water conservancy investment and financing in Zhejiang Province. It analyzes the underlying causes of marketization challenges and proposes targeted countermeasures. The findings indicate that

in recent years

Zhejiang has established a “multi-subject

multi-tier

multi-channel” investment and financing system. Provincial water conservancy construction investment has shown an overall upward trend

with continuous optimization in investment structure. However

public welfare projects still rely over 70% on fiscal funds

and the marginal efficiency of market-based financing tools in resource allocation has not been fully realized. Currently

water network construction is in a high-speed development phase

generating significant investment demand. However

water conservancy investment and financing faces challenges such as ineffective policy coordination

declining government funding capacity

and insufficient project returns that limit private capital participation. Therefore

it is recommended that the government strengthen integrated planning and coordination

enhance project value

open access for private capital

and promote the high-quality development of the water sector.