In the first part of the paper, main achievements and progress in water conservancy construction of China over the past half century are briefly summarised in respect of flood-control, irrigation, water supply and hydroenergy utilization, which are also reflected in sci-tech, education and management. In the second part, while affirming the achievements, the problems and shortcomings are analyzed. They mainly include： the flood-control standard is still at low level and reliable and complete water-control systems have not been established; water level of floods are increasingly raising causing the increase of flood prevention burden and risks; overexploiting of water resources and serious waste of water; water contamination and water environment deterioration ;the incompleteness, low quality, extensive management and low economic results of water conservancy projects, and so on. The paper holds that these problems should be attributed to the one-sided ideology and improper policies. Finally, in line with the requirement of the development and rejuvenation of China, the paper forecasts the tasks and goals of water conservancy construction in the days to come.