This paper analyzes the status quo and the existing problems of water resources in Zhejiang Province. Although with an abundant total quantity, the per capital hold of water resources here is low. Besides, this area is characterized by an uneven annual and inter-annual distribution of water resources, with frequent droughts and floods. The uneven regional distribution causes incompatible socio and economic development, and the low utilization of water resources leads to serious water pollution. In order to solve the existing problems and insure water security, the government proposed countermeasures which mainly cover the following items:first, to enhance the efficiency of water use and resolve contradictions between water supply and the demand; second, to promote rational development of water resources and strengthen comprehensive utilization; third, to raise the awareness of water security and promote innovations on the scientific management of water resources;fourth, to improve related mechanisms on water price and accelerate the pace of water rights trading.