Construction Of Regional Water Resources Capital Pricing Model And Empirical Research

The capitalization of natural resources is the process of maintaining and increasing the value of natural resources in the process of identification,research,utilization,investment and operation.China has a vast territory,and some economically underdeveloped areas have rich natural resource stocks,but its resource advantages are difficult to be brought into full play.In order to continuously and dynamically reflect the changes of social and economic development and the shortage of water resources,this paper discusses the capital pricing of water resources from the perspective of multi-dimensional value evaluation of resources.This paper systematically reviews the research status of water resources capital pricing at home and abroad.Through combing the concept of natural capital,this paper determines the research boundary of the problem and calculates the scientific and reasonable water resources capital price based on the multi-dimensional value evaluation method of resources.This paper constructs a multidimensional water resources capital value evaluation index system from four dimensions and sixteen indexes of water resources endowment,water resources supply,water resources demand and water environment,and objectively determines the weight values of the sixteen indexes through the variation coefficient entropy weight method from the actual data.Through the regression analysis of 36 comparable water rights trading cases in China from 2010 to 2020,this paper analyzes the impact mechanism of water resources capital value evaluation index on water resources capital price.On this basis,the pricing model of water resources capital price under different adjustment factors is constructed in order to scientifically adjust the water resources capital price,improve the use efficiency of water resources and improve the water resources management system.Taking Jinan City of Shandong Province as an example,this paper makes an empirical analysis.The results show that during the period of water rights trading in Jinan,the evaluation index of water resources capital value increases year by year,and the price of water resources capital also fluctuates.In addition,with the adjustment of different factors,there are certain differences in the changes of water resource capital prices.During the water rights trading period,the water resources capital price of Jinan should be dynamically adjusted at about 0.6cny/m3 in the first water rights trading cycle before 2040 and about 1.0cny/m3 in the second cycle after 2040 according to the actual situation.Although there are many water rights trading markets in China,the current legal system of water rights trading market in China is not perfect and the scope of water rights trading market is limited.There is still a lack of clear supporting provisions for the evaluation and adjustment of water rights trading prices.This research suggests that the water resources capital value evaluation index should play an adjusting role in the formulation of water resources capital price,so as to promote the establishment of a more dynamic,fair and long-term water rights trading market system.