Research On Water Right Bank Construction And Management

China is facing with the situation of water shortage. The construction of water right system and water right market is in favor of promoting the water resource utilization efficiency and allocation efficiency as well as releasing water shortage. From the practical viewpoint, in consideration of the restricted scope of water right transfer, immature law protection of water right trade, high risk in water right business and complex operation of water right market, there will be a long progress until the construction of a formal water right market. In current times, as a new type of water right transfer form,"Water Right Bank"can give a full consideration of the no-trade or unwilling in water right transfer, make up the limitation of current water right market operation; and lead water resource transfers from a low-level efficiency department to a high-level one, raise water utilization effiency, so as to work out the water shortage problem to a certain extent. Therefore, the research of"Water Right Bank"has a high academic value and practical significance.This paper propounds the conception of"Water Right Bank", analyze the construction and management of"Water Right Bank"; as well as make a particular research aims to construct the"Yellow River Water Right Bank","South-to-North Water Transfer Project Water Right Bank"and"Groundwater Water Right Bank"on base of combining the theories about New Institutional Economics, Property Rights Economics, Environmental and Natural Resource Economics, Microeconomics & Macroeconomics and practical water right trade both in domestic and abroad through the methods of normative analysis, positive analysis and game analysis. The specific research contents and conclusion are as follows:(1) Relative conceptions about"Water Right Bank". Firstly, make a basic definition of"Water Right Bank". A"Water Right Bank"is an entrepreneurial organization similar to the commercial bank which authorized by the nation. It is an intermediary with the business of water resource storage and loan operation, whereas without water right trade (neither sell nor buy). Refer to the modern commercial bank operational system,"Water Right Bank"set a"water interest rate"to manage the water right business, motivate a high-efficiency water use and advance a more rational water resource allocation. Secondly, definite the"Water Right Bank"and'water right Clearing house'as a second-level water right market (water right trade and transfer) operation and make a deeply analysis. Water Right Bank is not equal to water right clearing house, the existence of water right transfer in both organizations though. The business of"Water Right Bank"is mainly about the loan of water right, it is the bank which deal with the seller and buyer, the both sides of the deal has no connection; while'water right Clearing house'has a section of water right trade, the exchange itself doesn't take part in this trade. Lastly, analyze three functions of the"Water Right Bank", which are intermediary function, business function and social-economic function.(2) The construction, management and operation of"Water Right Bank". A"Water Right Bank"consists of the basic part, the basic type and level construction. The basic construction of a"Water Right Bank"is confirm the trade subjects (the debit—the owner of water right, the credit—the clients of water right and the intermediary—the bank), the trade objects (water right) and the trade mode (storage and loan). Refer to the general construction and basic types of international Water Right Banks, combined with the domestic water resource allocation characteristics, the Water Right Bank is classified into three types: storage water right bank, Surface flow water right bank (both within-basins and inter-basins )and Groundwater right bank. Combined the domestic water resource utilization, according to the national water resource management and water right construction system, the management will be operated from the national level and local government level in terms of various types of water right bank. The operation of Water Right Bank is a progress based on searching for the maximizing benefits of the supplier and the customer separately, which will therefore rely on the water right bank as an intermediary to debit and credit. The operation mode of a Water Right Bank is made up of three parts: water storage, water loan and the water interest rate. The water right storage and loan is the main mode of a Water Right Bank operation, the water right storage acts as the supply and the water right loan acts as the demand. The Water Right Bank cannot run until those two parts work together, meanwhile the water right debit and loan determines the water interest rate. The water interest rate will work on the debit and loan relationship in return with a concrete of the variation of water interest rate. Define the water interest rate through"water right supply and demand balance model"and analyze the main factors that effect its change with a market supply and demand model. The supervision and management system of Water Right Bank includes patterns, contents, methods and laws. From the economic viewpoint, three reasons justify the occurrence of the risk; they are the internal fragility of Water Right Bank, asymmetric information and the imperfection of system. The Water Right Bank supervision and management mechanism may mitigate the risks. According to the performance of risks, the Water Right Bank risk management includes the water right storage risk, water right loan risk, water right interest rate risk, the credit risk and the capital risk. From the game theory viewpoint, the management is needed in Water Right Bank and management department, in Water Right Bank and water right loan, in Water Right Bank and water right storage. This management is made up of three parts: the government management, the bank self-management and the society intermediary management.(3) Construction and management of the"Yellow River Water Right Bank","South-to-North Water Transfer Project Water Right Bank"and"Groundwater Water Right Bank". According to a variation existence of the water resource, take the Yellow River, the South-to-North Water Transfer Project and the Groundwater resource as examples, do research on the management and operation of within-basins and inter-basins Surface flow water right bank, and Groundwater right bank. In the research of the"Yellow River Water Right Bank", the necessity was given a full explanation through the analysis of the utilization and water right transfer situation in the development of Yellow River water resource. State the constitution of the"Yellow River Water Right Bank"from aspects of construction system, trade market system and management system. Some relative suggestions were promoted; they are constructing and perfecting the"Yellow River Water Right Bank"system, advancing the hydraulic engineering in Yellow River basin and developing the information sharing system. South-to-North Water Transfer Project aims to Optimize-allocation water resource, while the water right bank work for the mitigation of water shortage, and lead the water resource transfer from a low-efficiency part to a high-efficiency part. A common understanding on this issue was achieved. Besides, two problems are waiting to be worked out; they are how to embody the quasi-market mechanism and how to achieve a cross-basins transaction? The construction of a Water Right Bank will be a solution. Therefore, based on the water transfer project in CA, US, some research was done on the South-to-North Water Transfer Project construction and management. One highlight is that the government should play an important role in the management of South-to-North Water Transfer Project and enhance its power in macro-control, legislation and monitoring. In the research of"Groundwater Water Right Bank", analyze the current problems exist in the Chinese underwater development; promote ways for how to restrain over-extracted ground water to release water resource shortage. Artificial recharge of underground water is a good way to mitigate such situation, the feasibility was also proved. It must be noted that the underground water right bank was limited to its administrative areas, and can only achieve to the water resource storage with help of artificial recharge of underground water and regarding engineering services.