They say “see mountains not as mountains, see water not as water” – in Hubei, this saying is being given new meaning. Water ecological products are transforming into quantifiable, tradable “real money.”

In June, Hubei’s first water ecological product transaction was completed. In Yueshan Village, Wufeng Tujia Autonomous County, Yichang City, the village collective transferred water ecological tourism and wellness resources valued at 1.2 million yuan through a ten-year agreement to Wufeng Slate House Tourism Development Company. The company pays 520,000 yuan annually in basic fees (including ecological maintenance costs) and shares 1% of net profits.

Thus, the water ecological products in Yueshan Village area are no longer abstract natural scenery but have been practically converted into capital driving local development.

The capitalization of Yueshan Village’s water resources represents a microcosm. Currently, the reform of state-owned “three resources” management is accelerating across the region.

Yichang Yueshan Village area Yangyuan Homestay cultural tourism wellness water ecological product

01

Old Development Models Becoming Unsustainable

Must Revitalize the “Foundation”

State-owned “three resources” refer to state-owned resources, state-owned assets, and state-owned funds.

Resources mainly include six categories: state-owned minerals, forestry, water resources, energy, land, and data – all with operational attributes, serving as the key link between government and market.

Assets mainly include five categories: physical assets, equity, creditor’s rights,特许经营权, and future收益权.

Funds mainly refer to two types of state-owned funds: “idle and inefficient” funds sitting in accounts.

Why is Hubei advancing state-owned “three resources” reform?

Currently, governments generally face dual pressures of slowing fiscal revenue growth and持续增长的刚性支出. Traditional land finance and tax growth models are becoming unsustainable. Therefore, deepening state-owned “three resources” management reform and accelerating the construction of a comprehensive fiscal system represent inherent requirements for improving state-owned economic operational efficiency and serve as crucial support for addressing current needs of stabilizing growth, preventing risks, and ensuring livelihoods.

02

Deeply Excavating Six Resource Categories

Awakening Dormant Resources

How to advance?

Following the principle of “all state-owned resources尽可能实现资产化, all state-owned assets尽可能推进证券化, all state-owned funds尽可能运用杠杆化,” Hubei focuses on deepening state-owned “three resources” management reform.

The fourth meeting of the 12th Provincial Committee深改委 reviewed and approved the provincial “Overall Work Plan for Deepening State-Owned ‘Three Resources’ Management Reform,” forming a “1+8″方案体系 with clear reform objectives and orderly推进工作.

First, inventory. Minerals (gold), forestry (wood), water resources (water), energy (fire), land (earth), data (numbers)… All state-owned resources receive “household registration” – confirmation,确权, and valuation.

Then, classification. Use if possible, sell if not used, rent if not sold, leverage if possible – striving to maximize the value and benefits of state-owned assets.

Promote innovation. Explore more implementation paths for state-owned resource assetization, state-owned asset证券化, and state-owned fund杠杆化,努力 improving comprehensive efficiency of “efficient utilization and scientific disposal.”

State-owned “three resources” reform acts like “alchemy” for dormant resources, with many areas achieving preliminary results.

Mineral resources “circulate to generate gold.” Hubei联投集团 revitalized 86存量矿业权; Huangshi Sanxin Company integrated mining rights, adding nearly ten million tons of gold-copper ore reserves; Wuhan Jiangxia District and Yidu City transformed abandoned mine pits into cultural tourism complexes, giving废弃矿坑 new life.

Forestry resources “turn green into gold.” Chongyang County Osmanthus Forest Administration pioneered “five rights”打包出让, with single transaction amounts reaching 250 million yuan; Huangmei County Wuzu Temple Forest Farm托管 70,000 acres of collective forests to create “tourism + wellness + research” industrial clusters.

Water resources “extract gold from water.” Suizhou City, Macheng City, Xuan’en County and

Hubei

Hubei is a central Chinese province with a rich history dating back to the Bronze Age state of Chu. It is famously home to the Three Gorges Dam and the ancient Yellow Crane Pavilion. The province’s capital, Wuhan, gained historical significance as the site where the 1911 Wuchang Uprising sparked the revolution that ended imperial rule in China.

Yueshan Village

Yueshan Village is a historic rural settlement in China’s Anhui province, known for its well-preserved Huizhou-style architecture from the Ming and Qing dynasties. The village was established by the prosperous Yue family clan, who built elegant white-walled homes with ornate carvings and ancestral halls reflecting their merchant heritage. Today, it stands as a protected cultural site showcasing traditional Chinese village life and architectural craftsmanship.

Wufeng Tujia Autonomous County

Wufeng Tujia Autonomous County is an autonomous county located in Hubei Province, China, established to represent the Tujia ethnic minority. Historically, this area has been inhabited by the Tujia people for centuries, with its official designation as an autonomous county occurring in 1984. The region is known for its traditional Tujia customs, stilted architecture, and the picturesque Houhe National Nature Reserve.

Yichang City

Yichang City is a major port city in Hubei Province, China, situated on the Yangtze River. It is historically significant as the gateway to the Three Gorges and was a strategic military location during ancient times. Today, it is best known as the home of the monumental Three Gorges Dam, the world’s largest power station in terms of installed capacity.

Wufeng Slate House Tourism Development Company

The Wufeng Slate House Tourism Development Company manages and promotes the historic slate houses in Wufeng Township, Taiwan. These traditional houses, built by the indigenous Atayal people using local slate and wood, represent a significant cultural heritage. The company works to preserve this unique architectural style while developing sustainable tourism in the region.

Yangyuan Homestay

I am unable to provide a specific summary for “Yangyuan Homestay” as it appears to be a common name for many local guesthouses, particularly in China, and does not refer to a single, well-documented historical or cultural site. Without a specific location or context, I cannot verify its unique history or cultural significance. For an accurate summary, more specific details about its location would be needed.

Huangshi Sanxin Company

Huangshi Sanxin Company is a manufacturing enterprise based in Huangshi, Hubei province, China. While specific historical details are limited in public records, it represents the industrial development in the region, contributing to local economic growth through its production activities.

Wuzu Temple Forest Farm

The Wuzu Temple Forest Farm is a scenic and cultural site in China that combines natural beauty with historical significance. It is named after the nearby Wuzu Temple, a Buddhist temple with roots tracing back to ancient times, reflecting the area’s long-standing spiritual heritage. Today, the forest farm serves as a protected natural area for recreation and conservation, offering visitors a serene environment of woodlands and trails.