Contributionofwaterconservancyinvestmenttonationaleconomicgrowth:casestudyofHunanProvince/MAO Chunmei1,2, ZHU Yanjiao2, HUANG Bing3, LI Hongxiang3(1.School of Public Administration, Hohai University, Nanjing 211100, China; 2.Business School, Hohai University, Nanjing 211100, China; 3.Hunan Hydro and Power Design Institute, Changsha 410007, China)

Abstract: Scientific evaluation of the driving effect of water conservancy input on the national economy is of great practical significance for guiding the investment direction of water conservancy infrastructure and improving the efficiency of water conservancy investment. Based on the analysis of the correlation between the water conservancy input and the national economy, the contribution of water conservancy input to GDP growth in Hunan Province is calculated by using the C-D production function and elastic analysis model. The calculated results show that there is a strong correlation between the investment in water conservancy infrastructure and the GDP. The water conservancy is an important support and guarantee for the national economy as a public welfare infrastructure. From 1950 to 2018, the contribution of water conservancy investment to the GDP in Hunan Province is 338.574 9 billion yuan, with an average GDP growth of 151 million yuan driven by the water conservancy investment per 100 million yuan, an average annual contribution of 4.906 9 billion yuan and an average GDP growth rate of 2.93%. We should further increase the investment in the water conservancy infrastructure to promote the rapid and high-quality development of the national economy.

Keywords: water conservancy investment; economic growth; C-D production function; contribution rate; Hunan Province

DynamictransfermodelofsocialcapitalcontrolinwaterconservancyPPPprojectsfromtheperspectiveofequityconcerns/ZHANG Ke1,2, ZOU Lei1,2, CUI Jinghao1, FENG Jingchun1,2(1.Business School, Hohai University, Nanjing 211100, China; 2.Jiangsu Provincial Collaborative Innovation Center of World Water Valley and Water Ecological Civilization, Nanjing 211100, China)

Abstract: In order to deeply analyze the dynamic transfer of internal control rights of social capital, the fairness concern preference is incorporated into the process of the transfer of control rights of water conservancy PPP projects, and the game of resource and power redistribution of different participants is studied based on evolutionary game model analysis and simulation experiments. The results show that: (1) Reasonable degree of equity is helpful to enhance the cooperation between social capital. (2) From the perspective of equity concern, the probability of active cooperation between the two parties is negatively correlated with the proportion of control transfer, positively correlated with additional management cost, residual value sharing, and punishment intensity, but not correlated with the active cooperation cost of professional firms. (3) Professional firms tend to promote the transfer of control by improving residual value sharing which can bring more intuitive perception of fairness. For investors, only when the effort level and potential income of professional companies reach the expectations of investors, they are likely to give up part of the control right to encourage professional companies.

Keywords: equity concerns; water conservancy PPP projects; social capital; control rights; evolutionary game

InfluencingfactorsforapplicationofBIMinhydraulicengineering/DONG Lingli1,2, FENG Jingchun1,2,3, YANG Zhixiang4, WANG Ting1,2, XUE Song1,2(1.Business School, Hohai University, Nanjing 211100, China; 2.Institute of Project Management, Hohai University, Nanjing 211100, China; 3.International River Research Center, Hohai University, Nanjing 211100, China; 4.Hangzhou Nanpai Engineering Construction Management Service Center; Hangzhou 310000, China)

Abstract: In order to promote its application and development in hydraulic engineering industry, to improve its application efficiency and to promote the application of its whole life cycle, it is necessary to analyze the factors that affect the application of BIM in hydraulic engineering and analyze their internal relationship. Firstly, 19 major factors that affect the application of BIM in the field of hydraulic engineering in China are selected on the basis of literature review and analysis. Secondly, a multi-level hierarchical model for the relationship among the influencing factors is established using ISM method. The direct and basic factors are found out, and the hierarchical relationship among them is analyzed. Finally, the MICMAC method is further adopted to determine the driving forces and dependence of the influencing factors so as to classify the various factors. The research shows that the understanding of BIM, the number of BIM experts, the unified standards and guidelines of the industry, the support of the competent authorities of the industry, the limit of legal responsibility, the BIM standard contract demonstration text, and the intellectual property of BIM model have higher driving forces, which are the fundamental factors to affect the application of BIM. The compatibility of BIM software, the configuration and upgrade costs of hardware and software, the costs and time of staff training, and the benefits brought by BIM technology have higher dependence and lower driving forces, which are the direct factors to affect the application of BIM.

Keywords: hydraulic engineering; BIM; influencing factor; ISM; MICMAC

StructuralcharacteristicsandoptimalpathofwaterresourcestressinYangtzeRiverEconomicBeltunderbackgroundofgreatconservation/LI Xinjin1, GAO Yuping2, ZHOU Shenbei1(1.Business School, Hohai University, Nanjing 211100, China; 2.Education Center of Ministry of Water Resources, Beijing 100038, China)

Abstract: How to optimize the stress structure of water resources is a binding issue for the Yangtze River Economic Belt to continue to support the high-quality development of the national economy and society of China during the 14th Five-Year Plan period. In the background of “joint protection and cautious exploitation”, the stress index method and the multi-regional input-output model are used to analyze the structural characteristics of water resource stress and the contribution of virtual water flow to the regional stress in the Yangtze River Economic Belt from 2002 to 2019 from the perspective of virtual water. The results show that there are significant gaps in the actual annual average stress and the changing trend among the provinces and cities in the Yangtze River Economic Belt. The stress values in Shanghai and Jiangsu are much higher than those in other provinces and cities, and they are strongly dependent on the transiting water. The virtual water in Jiangsu, Anhui, Hunan, Hubei and Jiangxi mainly presents the state of net internal outflow, and the net outflow of virtual water in Anhui and Jiangxi exhibits an upward trend. In general, the virtual water transfer implied by trade has made a greater contribution to alleviating the water resource stress in Shanghai, Zhejiang and Chongqing. However, it exerts increasing pressure on Anhui, Jiangxi, Hubei and Hunan. Finally, some suggestions are put forward for the regional spatial balance of water resource stress in the Yangtze River Economic Belt, including establishing a scientific industrial structure and further promoting water conservation, improving the internal and external trade structure of the region, and coordinating the outflow of virtual water and physical water.

Keywords: Yangtze River Economic Belt; water resource stress; multi-regional input-output analysis; virtual water

ResearchprogressandprospectofwaterconservancyscenicareasbasedonCiteSpace/ZHANG Siyuan1, XIE Xiangcai1,2(1.College of Horticulture, Fujian Agriculture and Forestry University, Fuzhou 350002, China; 2.National Water Conservancy Scenic Area Research Center, Fuzhou 350002, China)

Abstract: In order to fully understand the research progress of water conservancy scenic areas, based on the bibliometric method, 775 articles in CNKI from 2000 to 2020 are taken as the research object, and the knowledge graph tool(CiteSpace) is used to visualize and analyze the knowledge graph of the water conservancy scenic areas in China. The current status of researches are investigated, and the development hotspots and trends are predicted. The research results indicate that: The researches on water conservancy scenic areas in China has stepped into the stage of deepening development, and the number of articles has grown steadily; The researches are mainly from the water resource professionals and university teachers and students, and the core group of scholars has a small scale, so the water conservancy scenic area has not become a widely concerned research object; The keywords such as “water conservancy landscape resource”, “water conservancy tourism development” and “water conservancy scenic area construction and management” are the main research hotspots in the field of water conservancy scenic areas in China at various research stages; The researches on water conservancy scenic areas shows a research trend from local to overall, from qualitative analysis to parametric and quantitative analysis. Some conclusions and suggestions for the researches on water conservancy scenic areas are put forward so as to provide reference for further expanding their research system and content.

Keywords: water conservancy scenic area; research progress; knowledge graph analysis; CiteSpace

Considerationonestablishmentofevaluationindexsystemforriverofhappiness/LIU Qian(Development Research Center of Ministry of Water Resources, Beijing 100038, China)

Abstract: In response to General Secretary of CPC Xi Jinping’s call “Let the Yellow River become the river of happiness benefiting the people”, the relevant evaluation index system is established so as to better build the rive of happiness to benefit the people. Based on the existing studies and guided by the Marxist concept of happiness, the attributes of happiness of the river of happiness are analyzed by means of the Marxist positions, views and methods from three dimensions of subjectivity and objectivity, absoluteness and relativity, and materiality and spirituality. Then, the indexes for evaluating the river of happiness are analyzed, including subjective and objective indexes, general and personalized indexes, and material and spiritual happiness indexes. On this basis, the establishment idea of the evaluation index system for the river of happiness is discussed including its evaluation object, system structure, and basic and specific indexes. Finally, some policy recommendations are put forward.

Keywords: river of happiness, evaluation index system, establishment idea

EffectivenessofrefinedmanagementoftypicalwaterconservancyprojectsinJiangsuProvince/YUAN Ruhua1, WANG Xiaoyu1, XIA Fangkun2, GUO Ning3, GAO Xinggen3, CHEN Jianming1, LI Yajuan1(1.Business School, Hohai University, Nanjing 211100, China; 2.Jiangdu Water Conservancy Project Management Office, Yangzhou 225200, China; 3.Department of Water Resources of Jiangsu Province, Nanjing 210029, China)

Abstract: In order to scientifically and rationally analyze the effectiveness of the refined management of typical water conservancy projects in Jiangsu Province from 2017 to 2020, a qualitative and quantitative index system that includes the structure, operation and effectiveness is established. The effectiveness of refined management of typical water conservancy projects in Jiangsu Province is analyzed by using the AHP method and the SBE method. The results show that the average value of the qualitative index evaluation of the refined management of water conservancy projects in Jiangsu Province accounts for 79.169% of the total evaluation value, and the comprehensive evaluation value of the quantitative indicators accounts for 94.995% of the total evaluation value, which shows the significant effectiveness of the refined management of water conservancy projects in Jiangsu Province in recent years. Based on the evaluated results, the relevant suggestions are put forward for the water authorities to promote and deepen the refined management of water conservancy projects.

Keywords: water conservancy project; refined management; effectiveness; qualitative and quantitative evaluation; AHP method; SBE method

AssetsecuritizationpricingofwaterconservancyPPPprojectsbasedonoption-adjustedspreadmethodandMonteCarlosimulationmethod/HUANG Dechun1,2,3, LI Xiaohan1,3, HE Zhengqi1,2,3(1.Business School, Hohai University, Nanjing 211100, China; 2.Jiangsu Provincial Collaborative Innovation Center of World Water Valley and Water Ecological Civilization, Nanjing 211100, China; 3.Institute of Industrial Economics, Hohai University, Nanjing 211100, China)

Abstract: The reasonable asset securitization pricing can attract more social capital investment and provide a long-term stable source of funds for water conservancy PPP projects. Based on the comparative analysis of pricing methods and the development status and characteristics of PPP projects in water conservancy industry, the option-adjusted spread method and Monte Carlo simulation method are selected to establish pricing models respectively, and the case of sewage treatment PPP project is selected to study the asset securitization pricing. It is shown that the pricing results obtained by the two methods are both in line with the market reality, but in contrast, the pricing model established by the option-adjusted spread method is more in line with the characteristics of asset securitization of water conservancy PPP projects, so its pricing results are more accurate and closer to the actual issuance price of securities.

Keywords: asset securitization pricing; water conservancy PPP project; option-adjusted spread model; Monte Carlo simulation

Market-drivingpathofsewagerecyclingmanagement/WANG Xifeng1, WANG Yining2(1.Institute of Quantitative and Technological Economics, Chinese Academy of Social Sciences, Beijing 100732, China; 2.Development Research Center, Ministry of Water Resources, Beijing 100038, China)

Abstract: In order to promote the sewage recycling, to improve its level and to innovate its management system, the market-driving path for the sewage recycling management is put forward. The main research method is based on the analysis of cost accounting. By summarizing and analyzing the current situation, the external benefits of sewage recycling for the cities with large use amount of reclaimed water are analyzed. The ecological water supplement benefits and environmental benefits are the primary consideration. The direct economic benefits are not the key point to be considered, and most of the costs in the process of sewage recycling treatment is borne by the municipal government. In the process of sewage recycling, through the cost accounting, it is considered that the first-tier and quasi-first-tier cities with strong financial resources can bear the costs of sewage recycling, but most other cities cannot bear them by themselves. The key to form the long-term mechanism of sewage recycling is the asset management of reclaimed water by introducing the social capital to reduce the burden of local finance and industrial enterprises and to promote the modernization of water treatment system. Some policy suggestions are proposed as follows: the government should determine the property rights and benefits; the transaction mechanism of reclaimed water assets should be established; the national goal of reclaimed water utilization should be formulated; the planning and construction of reclaimed water infrastructures should be strengthened; the reclaimed water should be reasonably set as the boundary of the unified allocation system of the unconventional water sources, and the connection between the reclaimed water utilization and the strictest water resources management system should be coordinated.

Keywords: sewage resource; market path; reclaimed water asset; cost accounting; sewage management; environmental protection policy

PricingframeworkofecologicalwatersupplyforSouth-to-NorthWaterDiversionProjectbasedonincentiveandconstraintmechanism/YANG Yanming(Development Research Center of Ministry of Water Resources, Beijing 100038, China)

Abstract: The ecological water supply price of the South-to-North Water Diversion Project shall be set within the framework of its water price system under the premise of paying for water supply, compensating cost, and sharing cost by financial funds and social water users. As the water supply gradually increase, different pricing schemes should be adopted in the short term and medium-long term respectively. By dividing the basic water price and the metered water price, and determining the subsidy subjects of the difference between the nominal and actual prices, an incentive and constraint mechanism for the local governments to fully and efficiently implement the water supply is formed. Introducing multiple stakeholders and multiple rounds of pricing negotiation is the basic feature of this pricing process.

Keywords: South-to-North Water Diversion Project; ecological water supply; two-part price

Comparisonanddemandanalysisoffiscalandfinancialpoliciesforwaterandenergyconservation/ZHOU Zheyu1, XU Fengran2, TANG Yingfu2, MU Xiangpeng2, ZHU Houhua3, GAO Huizhong2(1.National Office of Water Conservation, Beijing 100053, China; 2.Institute of Hydraulics, China Institute of Water Resources and Hydropower Research, Beijing 100038, China; 3.Center of Water Resources Management of Ministry of Water Resources, Beijing 100038, China)

Abstract: Water conservation is of prominent public benefits. The fiscal and financial policies for the water conservation should be promoted to stimulate its motivation. By comparing the fiscal, taxation and financial policies for water and energy conservation between China and foreign countries, the gaps in the water conservation in China are analyzed. There is a lack of fiscal support, sufficient application of policy tools, favorable taxation, financial channels and attraction for social capitals. On this basis, the demands for promoting the fiscal and financial policies in China are proposed, including establishing the sustainable funding mechanism, expanding the subsidy for water conservation products, formulating the reward policies for water conservation and the relevant facilities, giving the taxation incentives for R&D and innovation of water conservation technologies, and giving the financial support for preferential loans, green bond and insurance.

Keywords: water conservation; energy conservation; fiscal and taxation policy; finance policy

Realizationandincrementmechanismofwaterrightvaluefromperspectiveoffinancialattribute/JING Xiaodong1, TIAN Guiliang1,2,3, JIANG Xiaoming1(1.Business School, Hohai University, Nanjing 211100, China; 2.School of Economics and Finance, Hohai University, Nanjing 211100, China; 3.Yangtze Institute for Conservation and Development, Nanjing 210098, China)

Abstract: The water right is one of the ecological products. Its transaction is the important way to optimize the structure of water utilization and to alleviate the contradiction of water resources under the new idea of water control. Exploring the innovative mode of the water right transaction is conducive to promoting the transition of the water right from commodity attribute to financial one, so as to better play the decisive role of the market in allocation of water resources. The financial attribute of the water right and the similarities between water right market and financial market are discussed from the perspectives of concept, market participants, market operation, market regulation mechanism, primary market and secondary market. The development context, classification standards and existing problems in the water right transaction platform of China in recent years are analyzed. The components of the financial market of water right are summarizes and analyzed, and it is proposed to design and develop diversified financial instruments including water right futures and water right options to further improve the water right market. Finally, some policy suggestions to promote the financial innovation of China’s water right market are put forward, including improving the laws and regulations, promoting the water right system, innovating the transaction mode, and establishing diversified investment and financing mechanism of water right market.

Keywords: water right; financial derivative; realization of water right value; increment of water right value

Thoughtsandsuggestionsonimprovingprogressivewaterpricesystemofnon-residentialover-quotawater/WANG Yining(Development Research Center of Ministry of Water Resources, Beijing 100038, China)

Abstract: The development history and implementation status of the progressive water price system of non-residential over-quota water in China are analyzed. The existing problems in the following aspects are investigated: the definition of the nature of the progressive water fee, the base number, level difference and magnification of the progressive water price, the combination of over-quota management and over-plan management, and the supervision of the progressive water price system. In order to further improve the progressive water price system of non-residential over-quota water, the following suggestions are put forward: to improve the legal system, to scientifically check the standards of the progressive water price, to enrich the management method, to innovate the water fee collection system, and to improve the supervision system.

Keywords: non-residential water; progressive water price system for over-quota water; over-quota management; plan management