Agricultural water transported from Lailong Irrigation District in Suyu District to Huaixi Irrigation District in Shuyang County. Photographed by Wang Xiaolan

"Since 'borrowed' water, it's hard to expect a bumper harvest!" Han Zhongjie, a grain farmer in Yuelai Town, Shuyang County, Suqian, Jiangsu Province, was delighted to see the water spreading in the wheat fields.

What about borrowing water? It turned out that Shuyang County and Suyu District under the jurisdiction of Suqian City reached a water rights transaction agreement two years ago. According to the agreement, Lailong Irrigation District in Suyu District transfers 19 million cubic meters of water use right indicators to Huaixi Irrigation District in Shuyang County every year, and the problem of irrigation water for 50000 mu of farmland in the latter is solved.

From water right indicator trading to "green ticket", "water right loan" and "carbon sink loan"... Since Suqian was listed as the pilot city of the whole region ecological product value realization mechanism by the Jiangsu Provincial Party Committee and the Jiangsu Provincial Government in 2022, it has made diversified exploration in the realization of ecological product value, Relevant experiences and practices were shared at the national experience exchange meeting on ecological product value realization mechanism held at the end of last year.

"Real gold and silver" in exchange for water right indicators

Huaixi Irrigation Area in Shuyang County and Lailong Irrigation Area in Suyu District are two adjacent agricultural irrigation areas. The former is short of water and the latter is surplus.

Han Zhongjie contracted 1000 mu of land with two crops of rice and wheat every year. In past years, water shortage has become his "heart disease" every time when wheat is irrigated in spring and rice is planted. Now, the two irrigation areas have a tacit understanding, and Han Zhongjie has never been worried about irrigation water shortage.

"By the end of last year, we had supplied about 36 million cubic meters of water to Shuyang." Ge Shumei, deputy director of Suyu District Water Conservancy Bureau, said that according to the water rights transaction contract signed by the two sides in June 2022, the Lailong Irrigation District of Suyu District will transfer 19 million cubic meters of water rights to Huaixi Irrigation District of Shuyang County every year in the next three years, with a transfer fee of 285000 yuan/year.

This is also the water right transaction between the first single county in Jiangsu Province. "50000 mu of farmland in Huaixi Irrigation District is included in the irrigation plan of Lailong Irrigation District, a unified water transfer plan is formulated, and the trading proceeds are clearly used for water-saving transformation and management improvement in Lailong Irrigation District, so that people in both places can enjoy the benefits of ecological products, and provide strong water source support for food security." said Lu Yi, deputy director of Suqian Water Conservancy Bureau.

In Suqian, in addition to the trade of agricultural irrigation water rights, the right to take water or the right to use water resources can also earn "real gold and silver". Recently, Jiangsu Niujiu Textile Intelligent Technology Co., Ltd., located in Siyang County, Suqian, successfully applied for a 10 million yuan "water right loan" to the Siyang County Rural Commercial Bank with its industrial water use right as a pledge.

The first transaction of groundwater rights in China and the first transaction of transferring agricultural water to industrial water in the province also appeared in Suqian City. At present, the local water resource allocation has formed a virtuous circle of "agriculture assisting industry, industry feeding agriculture", realizing the intensive, economical and efficient use of water resources.

"VEP Ecological Value Loan" issuance site of Shuyang Yisenyuan Flower and Tree Base. Photographed by Huang Qiyuan on People's Daily Online

Diversified transformation of ecological product value

The practice of Suqian in transforming the value of ecological products is blossoming more than just "water article". At the end of last year, Shuyang Yisenyuan Flower and Tree Base received a loan of 5 million yuan, which is the first "VEP flower and tree ecological value loan" in China.

Not long ago, a development enterprise obtained 89.52 mu of residential land in Sihong County, Suqian through land bidding, auction and listing procedures. It is understood that since the plot was originally for construction and greening, and the greening belongs to the urban ecosystem, enterprises need to purchase "green tickets" for ecological restoration compensation. "Through the third-party evaluation and the approval of the government department, we spent 250000 yuan to buy the 'green ticket' and obtained the income right of 15.8 mu poplar trees in Malanghu Forest Farm in half town," said Zhong Tiecheng, the project's investment representative.

According to the relevant person in charge of Sihong County Ecological Product Trading Center, the land bidder will invest in purchasing Class A "green ticket" from the trading platform to pay for the compensation of ecological space in different places, which is also an ecological product project investing in "green ticket". After the 15 year investment period expires, the bidder will get 80% of the principal and final income, and another 10% of the income will be owned by the collective organization where the project is located, and 10% of the income will be owned by the main body of the project, Malanghu Forest Farm. At present, Sihong County has completed five "green ticket" transactions.

It is worth mentioning that the first "carbon sink loan" in Suqian City was launched last year by the cooperation of Sucheng District Zhong'an Group and Industrial Bank. It is understood that the loan took the long-term usufruct of carbon reduction and carbon fixation generated by trees in the ancient Yellow River Park as the starting point, and used carbon sink pledge as a means of credit enhancement. Zhong'an Group obtained a loan of 5 million yuan, effectively revitalizing the "green assets" of the enterprise.

As for the next step, Huang Ziqi, head of the Planning Department of Suqian Development and Reform Commission, said that by 2025, Suqian will take the lead in exploring the path to realize the value of ecological products led by the government, participated by enterprises and all sectors of society, market-oriented operation, and sustainable.

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