Core Viewpoint - The report on the pilot implementation of the water resources tax reform indicates significant progress in enhancing water resource management and fiscal reform in China, with a focus on protecting residents from increased costs while promoting sustainable water usage [1][2]. Group 1: Implementation and Results - The water resources tax reform pilot has been gradually implemented since July 1, 2016, transitioning from a water resources fee system to a tax system, with full implementation set for December 1, 2024 [1]. - The pilot has shown positive outcomes characterized by "two increases and one decrease": enhanced enforcement, increased tax revenue, and a gradual decrease in water usage in key regulated areas [1]. - As of the full implementation date, 87,000 tax filers have been registered in the newly included 21 provinces, an increase of 13,000 compared to the previous water resources fee system [1]. Group 2: Tax Revenue and Management - The water resources tax reform has not added extra burdens on taxpayers, but has led to a significant increase in tax revenue due to more effective tax administration, with a reported revenue of 10.4 billion yuan in the first quarter of 2025 [2]. - In the newly included provinces, the average revenue from water resources fees increased by approximately 16.4% compared to the previous year [2]. - The reform includes higher tax rates for excessive or unauthorized water usage, while providing tax reductions for industries meeting advanced water efficiency standards, promoting water-saving practices [2]. Group 3: Future Directions - The government plans to continue advancing the water resources tax reform, focusing on tracking pilot outcomes, improving policy execution, enhancing inter-departmental collaboration, and potentially initiating legislative amendments [2]. - In Guangdong, the tax rates have been set at 0.2 yuan per cubic meter for surface water and 0.5 yuan per cubic meter for groundwater, effective from December 1, 2024 [2].

Core Insights - The report highlights the significant growth in water resource tax revenue following the implementation of the water resource fee to tax reform across China [2][3] - The reform aims to protect water resources and promote their efficient use, with a focus on enhancing enforcement and reducing water consumption in key sectors [2][4] Summary by Sections Implementation and Results - The water resource tax reform was fully implemented in December 2024, transitioning from a fee system to a tax system across 31 provinces [2] - The report indicates a positive outcome characterized by "two increases and one decrease": enhanced enforcement, increased tax revenue, and a gradual decrease in water consumption in key sectors [2] Taxpayer Growth and Revenue - The number of taxpayers for the water resource tax has significantly increased, with Hebei province seeing an increase from 13,300 to 18,700 taxpayers, and the second batch of provinces from 44,000 to 91,000 [3] - In the first quarter of 2025, the total water resource tax revenue reached 10.4 billion yuan, with a 16.4% increase in revenue from the newly included provinces compared to the previous fee system [3] Water Consumption Reduction - The reform has led to a notable reduction in excessive water usage, with a 43.1% decrease in over-planned water usage by enterprises in the first ten pilot provinces from 650 million tons in 2018 to 370 million tons in 2023 [4] - Special water usage, such as for golf courses and car washes, decreased by 14.8% from 6.02 million tons in 2018 to 5.13 million tons in 2023 [4] Pricing and Cost Management - To prevent an increase in residential water prices due to the tax reform, the report states that the water resource tax will be separated from the water price, ensuring that it does not impact the cost of basic water supply for residents [4] - Local governments are prohibited from increasing the burden of basic living water costs on residents as a result of the reform [4] Future Considerations - The report emphasizes the need for ongoing monitoring of the reform's implementation and the improvement of policy execution [5] - The government plans to propose amendments to the resource tax law to standardize the water resource tax system based on accumulated pilot experiences [5]

Core Points - The 17th meeting of the Standing Committee of the 14th National People's Congress (NPC) is scheduled to be held in Beijing from September 8 to 12 [1][2] - The agenda includes the review of various legislative drafts, including the Atomic Energy Law, Public Health Emergency Response Law, and several environmental laws [1][2] - Reports on the execution of the national economic and social development plan, budget execution, and government debt management for 2024 will also be discussed [2] Legislative Focus - The meeting will review drafts related to public health, environmental protection, and economic management, indicating a strong legislative focus on these areas [1][2] - Specific laws under consideration include the Food Safety Law amendment and the Ecological Environment Code, highlighting the government's commitment to safety and sustainability [1][2] Economic Reports - The meeting will include discussions on the economic performance analysis report for the current year, reflecting the government's ongoing assessment of economic conditions [2] - Reports on the integration of culture and tourism, climate change responses, and water resource tax reforms will be presented, showcasing a comprehensive approach to economic and environmental issues [2]

Group 1 - The event "Tax Protection for Clear Water, Party Building Navigation" was organized by Xiamen Water Resources Bureau and Xiamen Taxation Bureau to promote the implementation of water resource tax reform and enhance the role of party building [1] - The Xiamen Gaodian Water Plant, established in 1983, has a daily water supply capacity of 900,000 tons, serving as a crucial water source for Xiamen Island [1] - The event included a visit to the water treatment process and the Party-Mass Service Center of the municipal water company, aiming to inspire party members and enhance their commitment to work [1] Group 2 - Discussions at the meeting focused on party conduct, practical implementation of water resource tax reform, and integration of party building with business operations [2] - The tax reform has led to stable costs for normal production water usage, while significantly increasing awareness of water conservation among enterprises [2] - Future plans include ongoing party building collaboration, gathering feedback from enterprises on water resource tax policies, and promoting water conservation efforts to support the development of a beautiful Xiamen [2]

Core Viewpoint - The article discusses the implementation of the water resource tax reform pilot program, detailing various exemptions and regulations regarding water usage for different entities and situations [4][5][6][7][8][9][11][12][13]. Group 1: Exemptions from Water Resource Tax - Rural collective economic organizations and their members are exempt from the water resource tax when using water from their own ponds or reservoirs [3]. - Households with a few chickens that use well water for drinking are not required to pay the water resource tax, as small-scale water usage for domestic and livestock purposes is exempt [4]. - Water management units that take water for resource allocation or scheduling are also exempt from the water resource tax [5]. - Temporary emergency water extraction during mining construction for safety reasons does not incur the water resource tax [6]. - Farmers who temporarily extract water from rivers for drought relief are exempt from the water resource tax [7]. - Agricultural water usage within specified limits is exempt from the water resource tax, covering various agricultural sectors [8]. - Military and armed police forces are exempt from the water resource tax when using self-supplied wells, provided they do not connect to urban public water supply networks [9]. Group 2: Tax Reduction for Efficient Water Use - Industrial enterprises that achieve water usage efficiency at or above national advanced standards can receive a 20% reduction in the water resource tax for the current year [11]. Group 3: Tax Obligations for Specific Water Usage - Beverage companies extracting water from nearby rivers for production are required to pay the water resource tax, as they are classified as taxpayers under the regulations [12]. - Urban public water supply enterprises must calculate their tax obligations based on a specified formula outlined in the regulations [13].

欢迎扫描下方二维码关注： 根据《财政部 税务总局 水利部关于印发〈水 资源税改革试点实施办法 〉的通知 》（ 财税 〔2024〕28号）第二条规定，在中华人民共 和国领域直接取用地表水或者地下水的单位和 个人，为水资源税纳税人，应当按照本办法规 定缴纳水资源税。像企业从江河、湖泊（含水 库）等水源地直接取水用于生产经营，或者从 地下取水，都是需要缴纳水资源税的。 但根据《财政部 税务总局 水利部关于印 发〈水资源税改革试点实施办法〉的通 知》（财税〔2024〕28号 ) 第三条规定 , 有下列情形之一的，不缴纳水资源税： 水资源税的税额是怎么确定的呢? (02) 不同行业有何区别? 往期链接 o 农村集体经济组织及其成员从本集体经济组 织的水塘、水库中取用水； o 家庭生活和零星散养、圈养畜禽饮用等少量 取用水; o 水工程管理单位为配置或者调度水资源取水; ο 为保障矿井等地下工程施工安全和生产安全 必须进行临时应急取（排）水; ○ 为消除对公共安全或者公共利益的危害临时 应急取水; o 为农业抗旱和维护生态与环境必须临时应急 取水。 (33). 一问一答丨购进农产品增值税政策 (32). 一问一答丨调整增 ...

Core Viewpoint - The company plans to distribute a cash dividend of RMB 0.11 per share, totaling approximately RMB 102.87 million, based on a total share capital of 935,210,292 shares as of December 31, 2024 [1]. Company Overview - The company operates in the "Water Production and Supply" sector, specifically focusing on the production and sale of tap water and related water treatment services [2][3]. - The main business includes tap water production, drainage, and related water treatment services, with a strong emphasis on public welfare attributes and government-guided pricing [3]. Business Operations Tap Water Business - The company has three surface water plants with a total designed capacity of 110,000 tons per day [4]. - The tap water business operates under a franchise model granted by the Jiangyin municipal government for a period of 30 years [5]. Engineering Business - The engineering business, primarily managed by a wholly-owned subsidiary, focuses on the installation of water pipelines and related infrastructure projects within Jiangyin [6][7]. - The company engages in various engineering projects, including water pipeline installation and secondary water supply facility construction [8]. Drainage Business - The drainage business encompasses wastewater treatment, drainage network operation and maintenance, and related engineering services [9]. - The company operates two wastewater treatment plants with a combined capacity of 50,000 tons per day, focusing on both industrial and domestic wastewater [10]. Industry Context - The water supply industry is characterized by high capital intensity, long construction and return periods, and a relatively stable competitive landscape with regional monopolies [3]. - The industry is closely linked to regional economic growth, population size, and urbanization, currently in a mature development phase [3]. - Recent reforms in water pricing mechanisms and the introduction of water resource tax regulations are expected to enhance the overall profitability of the industry [3].