Value Evaluation Of Comprehensive Development Project Benefits In Beijing Mountain Area

Being a systematic project, the value evaluation of comprehensive development project benefits in mountain area is complicated. Up to now there is not any standard evaluation model for it, especially for its environmental benefits. This paper take comprehensive development project- "enrich farmers through water conservancy (EFTWC project)" in Pinggu district, Beijing as an example or research area, to built up indexes system for evaluating such projects based on the analysis of the project's functions; to evaluate the effects of EFTWC project on the development of agricultural economy in research area with statistic analysis method, such as the theory of gray system and regression analysis method. The key points of this paper are focused on as following aspects: (1) The value of eco-environmental benefits of EFTWC project in Pinggu district is evaluated based on utility value theory and environmental economic methods such as equivalent substitution approach, opportunity cost approach, and replacement cost approach; (2) The economic effects on investment are appraised with both static and dynamic cost-benefit analysis methods; and (3) The effects of the EFTWC project on the economy and society sustainability in research area are evaluated synthetically from three aspects: society development ability, economy development ability and resources and environmental capacity.The results show that:(1) 0.372 billion Yuan was invested totally for the implementation of the EFTWC project in Pinggu district form 1997 to 2002 (for 6 years), but the total value of it's benefits is 1.794 billion Yuan, of which physical output is 0.294 billion Yuan and eco-environmental benefits amount to 1.5 billion Yuan.The eco-environmental benefits are composed of the followings: water resources conserved amount to 28 percent, 422.2 million Yuan, land resources protected andimproved make up 3 percent, 40.6 million Yuan, carbon fixation and oxygen production for 17 percent, 254.4 million Yuan, environmental decontamination take up 26 percent, 395.5 million Yuan, and ecological tourism covers 26 percent, 383.2 million Yuan.(2) Under the assumption of the service longevity of the EFTWC project is 20 years (from 1997 to 2016) and the annually discount rate is 6 percent, value of different year (during the life span of engineering in the project) are discounted to present value (2002), the result of value of the EFTWC project's benefits show that the total present value is 7.92 billion Yuan. In which, physical output is 1.35 billion Yuan and eco-environmental benefits amount to 6.57 billion Yuan which is as 4.9 tunes much as the physical output.Take into account the investment of this project, the economic effects on investment are appraised with both static and dynamic cost-benefit analysis methods. The results of dynamic cost-benefit analysis show that the net present value is 832.87 million Yuan; annually net present value is 68.37 million Yuan; the benefit-cost ratio is 2.8 times; the investment returns is 4.3 years; and economic internal rate of return is 26 percent.(3) The sustainability of economy and society evaluating result shows the EFTWC project has greatly improved on economy and society sustainability in Pinggu district, Beijing. The characteristic value of sustainability has increased from 0.569 in 1996 to 0.631 in 2002 owing to the effects of the EFTWC project.