Research On The Legal System Of Water Rights Transaction In China

While as public natural resource, water promotes the sustainable development of economy and society, it is also the bottleneck for the development. The issues of the human-water relations, the pollution in water resource, uneven rainfall distribution on season and space are the major reasons that limit for the sustainable development. The water right is a privilege collection on the water resource. Based on the rational distribution of water resource, Water trading is behaviors that distribute and utilize water efficiently. It is a direct and affective method to alleviate the problem between human and water resource. So far, the water trading is at beginning stage. The legal system that supports the water trading market has not yet been established. Although related regulations can be found sparsely in the existing documents, there is no such law that thoroughly and systematically regulates the system, especially the critical problem within the system, including the role of the water right owner, the procedure and deadline, the registration and operating mechanism when establishing the water right. The rule to establish water right, the trading and pricing of the procedure, and the supervision mechanism is not covered in the existing laws. The role of government in the water right trading is also not clear. Therefore, the research the water right regulations is necessary and meaningful to enforce the steady development of water right markets and protect the water resource.This paper starts by analyzing the logic relations between the evolvement, development and supervision and water right with comparison, system analysis, and empirical analysis. Then it summaries the related concepts on the water trading practices and further analyze the internal relations in the different regime including theory, policy and regulations, and further purpose the innovative viewpoints in the legislative procedure. The paper argues to rebalance the responsibility of the government roles in the water right management system by applying market driven mechanism instead of pre-planning. This paper also explores the aspect including the water right establishment, the confirmation of roles in water right, the operation rule, pricing mechanism, supervision and protection mechanism, in order to provide a reference for the improvement of water trading system and related regulations.