Core Viewpoint - Dongying City is actively implementing a market-oriented water rights trading mechanism to address water resource constraints and promote high-quality development through innovative reforms [3][4]. Group 1: Water Rights Trading Mechanism - Dongying City has introduced a "water source replacement and price water separation" model to facilitate water rights trading, effectively addressing the shortage of Yellow River water indicators while utilizing available Yangtze River water [3]. - The city successfully completed the first national transaction of 5 million cubic meters of water between the Yangtze and Yellow Rivers, certified by the China Water Rights Exchange, marking a significant achievement in regional water rights trading [3]. Group 2: Regulatory Framework and Risk Management - A comprehensive regulatory framework has been established, including the issuance of the "Dongying City Water Rights Trading Management Implementation Measures (Trial)" to clarify trading principles, types, procedures, and supervision [4]. - The city has implemented a closed-loop regulatory model that includes strict pre-trading assessments, standardized in-trading reviews, and post-trading follow-ups to ensure transaction safety and flexibility [4]. Group 3: Achievements and Future Plans - Dongying City has engaged in 1.99 billion cubic meters of water trading over three years with the Shandong Provincial Water Diversion Project, contributing to the successful management of Yellow River water resource overload [4]. - The city plans to continue enhancing the water rights trading reform, aligning with the water needs of key industries and major projects to optimize water resource allocation [4].