Follow the stock market. Get the updates you need to make sense of the dynamic, global economy. China.org.cn brings you the economic highlights for this week .

President Hu Jintao said the government will make water projects a priority of the country’s infrastructure construction plans on Friday.

1. Hu: China will bolster water conservation efforts

China will intensify its water conservation efforts over the coming five to 10 years to guarantee the security of agricultural production and alleviate damage from droughts and floods, President Hu Jintao said at a meeting on Friday and Saturday.

 Hu said the government will make water projects a priority of the country’s infrastructure construction plans, focusing on irrigation and water conservancy in rural areas. By 2020, officials hope to have built a water infrastructure system capable of allaying floods and droughts. The remarks are part of a widely anticipated response to severe drought and flooding this year in central China.

Earlier this year, the CPC Central Committee and State Council pledged to double average annual spending on water conservation over the coming 10 years to 400 billion yuan ($62 billion) – for a total investment of 4 trillion yuan ($620 billion). The government invested 200 billion yuan in water projects in 2010.