By outdoor-nature-child.com On October 25th, in an exciting development for water resource management in China, Wanzhou District and Shizhu County in Chongqing conducted a significant water rights transaction at the China Water Rights Exchange. The transaction involved a staggering 74.22 million cubic meters of water, marking the largest single regional water rights deal in southern China to date. This agreement will effectively address the water allocation issues for the Qiyao Lake Reservoir project in Shizhu County.
The Qiyao Lake Reservoir project is a key initiative under Chongqing’s “14th Five-Year Plan” for water security and is considered a priority for enhancing the quality of the city’s water management. Once completed, the reservoir will serve multiple purposes, including supplying water to towns, providing agricultural irrigation, and ensuring safe drinking water for rural areas, with a total capacity of 10.709 million cubic meters.
According to the “14th Five-Year” water usage goals set by Chongqing, the actual water usage indicators for Shizhu County are currently in an “overload” state, posing challenges for the Qiyao Lake Reservoir development due to insufficient water allocation. After amicable negotiations between Shizhu County and Wanzhou District, Wanzhou has agreed to transfer 12.37 million cubic meters of annual water rights control indicators to Shizhu for the Reservoir’s construction. The total water transaction amounts to 74.22 million cubic meters, valid for six years from 2025 to 2030, at a total cost of 742,200 yuan. This transaction is expected to facilitate the successful approval of the water resources assessment for the reservoir project.
A representative from the Chongqing Water Resources Bureau noted that this transaction not only revitalizes economic incentives but also addresses the restrictions on local economic growth caused by insufficient water usage indicators. This win-win solution enhances both water efficiency and economic benefit. Additionally, the approach utilizes market mechanisms to encourage enterprises to conserve water, leading to more sustainable and optimized use of water resources.
As of October 25th, Chongqing has exceeded 120 million cubic meters of traded water this year. Looking ahead, the city plans to further deepen reforms in the water sector, leveraging water rights reforms to invigorate the water market and optimize spatial allocation of water resources, thereby promoting high-quality development in water management.