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Can the provincial water resources department manage the provincial water investment group company?

I can't.

The provincial water resources department has nothing to do with the provincial water investment group. The responsibilities and tasks of the Provincial Water Resources Department and the Provincial Water Investment Corporation are different, but they will cooperate closely in promoting the development of water resources, improving water conservancy facilities, promoting the construction of water conservancy projects, implementing water conservancy investment, and coordinating the resources of government agencies, social forces, industry associations and enterprises at all levels to achieve common water conservancy goals. So the two are cooperative.