I. Policy Basis
The "Recommendations of the Central Committee of the Communist Party of China on Formulating the 14th Five-Year Plan for National Economic and Social Development and Long-term Goals for 2035" issued in November 2020 require the promotion of market-based trading of emission rights, energy use rights, water rights, and carbon emission rights; Improve the management of binding indicators for environmental protection, energy conservation and emission reduction; improve the central ecological and environmental protection inspection system; actively participate in and lead international cooperation in addressing climate change and other ecological and environmental protection. This puts forward new requirements for the coordinated construction of the water rights trading market and other environmental rights markets, using water rights trading as an important means to promote environmental protection and respond to climate change, injecting new impetus into the development of the water rights trading market.
According to the "Guiding Opinions on Promoting the Reform of Water Rights" jointly issued by the Ministry of Water Resources, the National Development and Reform Commission, and the Ministry of Finance, it is proposed that by 2025, the initial allocation system of water rights will be basically established, regional water rights and water users 'water rights will be basically clarified, and the water rights trading mechanism has been further improved, market-oriented trading of water rights has become active, transaction supervision has been comprehensively strengthened, and a unified national water rights trading market has been initially established; By 2035, a water rights system with clear ownership, clear rights and responsibilities, smooth circulation, and effective supervision will be fully established, and the role of water rights reform in promoting optimal allocation of water resources and intensive conservation and safe utilization will be fully realized.
- Significance and necessity
Promoting water rights trading is an important means to give full play to the role of market mechanisms to promote optimal allocation of water resources and intensive conservation and safe utilization. It is an important measure to strengthen rigid constraints on water resources. Since the 18th National Congress of the Communist Party of China, the Party Central Committee and the State Council have made arrangements to coordinate and promote the reform of the property rights system of natural resource assets, proposed to improve the income management system of natural resource assets owned by the whole people, and clearly required the establishment and improvement of the initial distribution system of water rights and the promotion of market-oriented transactions of water rights.
Carrying out water rights trading is an important measure to implement the water control concept of "water conservation priority, spatial balance, systematic governance, and two-pronged efforts". Through reasonable rights confirmation, efficient circulation and strong supervision, while restraining the increase, revitalizing existing stocks can stimulate endogenous motivation for water conservation, improve water resource utilization efficiency and efficiency, and effectively promote the formation of a water market that is compatible with regional water resource endowments.
- Work process
Third-party institutions shall carry out water rights trading business in strict accordance with the relevant provisions of the Interim Measures for the Management of Water Rights Trading.