China Gezhouba Group Co. led gains of water companies in early Shanghai trading after Xinhua News Agency reported the Chinese government will accelerate investment in water projects to alleviate shortages of the resource.
Gezhouba rose 3.5 percent to 12.18 yuan as of 9:30 a.m. local time. Anhui Water Resources Development Co. jumped 7.8 percent to 16.25 yuan. Chongqing Three Gorges Water Conservancy and Electric Power Co. climbed 6.8 percent to 18.87 yuan and Qianjiang Water Resources Development Co. added 7.1 percent to 16.41 yuan.
China will make agricultural irrigation projects a priority and boost the construction of dams and reservoirs, Xinhua cited a politburo meeting chaired by President Hu Jintao.
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