清晨，阳光洒在广东省中山市长江水库清澈的水面，白鹭翩跹，荡开圈圈涟漪。 近年来，中山市以三年治水攻坚为底色，绘就一幅从水污染治理向美丽河湖保护建设迈进的画卷。 中山美丽河湖建设之路怎么走？看主线——打造美丽河湖、构建生态河湖、激活经济河湖；探路径—— 推动构建立体空间治理结构、全链条生态修复、河湖经济产业发展；找方法——打造"环境美化筑基、 生态修复强体、经济转化增值"良性循环的"中山模式"。 从"治"到"美"，这座岭南水乡正焕发新生，着力写好下半篇水文章。 高位统筹，从"污而治"到"治而美" 今年3月，一场美丽河湖保护建设工作大会在中山高规格召开。这不仅是一场代表中山治水三年阶段性 成果的总结会，更象征着中山迈向治水新征程的起点。 会上，中山市委书记郭文海指明未来发展方向。"从今天开始，中山开启美丽河湖保护与建设的新征 程，全力建设美丽岭南水乡，这也是中山'百千万工程'的关键之战。" 关键之战如何打？首先要"知己"，摸清底数。 作为一座拥有1041条内河涌的典型岭南水乡城市，开展美丽河湖建设，中山面临先天难题。 "中山河网密布，但是湖泊稀少。居民沿河而居，民房沿河而建。此外，全市土地面积仅1780.99平方 ...

Core Insights - Tianjin has achieved a 100% compliance rate for drinking water sources since the 14th Five-Year Plan, with significant improvements in water quality across various rivers and lakes [2][11] - The city has implemented a comprehensive approach to water resource management, focusing on ecological protection and sustainable development [2][12] Water Quality Improvement - The quality of drinking water sources in Tianjin has consistently met national standards, with 12 rivers showing improved water quality [2][11] - The proportion of good quality surface water and the reduction of inferior quality water bodies have met national assessment requirements [2][11] Key Initiatives - Tianjin is focusing on three main areas for the construction of beautiful rivers and lakes: developing a tailored evaluation system, establishing regulatory frameworks, and promoting successful case studies [12] - The city has launched a campaign to collect excellent case studies for beautiful rivers and lakes, with the first batch including three notable examples [3][12] Case Studies and Practices - Hebei District has transformed the Haihe River from inferior quality to stable Class III or better, recognized as an excellent case by the Ministry of Ecology and Environment [6][14] - Red Bridge District has improved the water quality of the Ziya River, achieving Class III standards, and has been recognized for its ecological initiatives [7][16] - The Cijiang District has implemented comprehensive governance of the Zhou River, focusing on pollution source control and ecological restoration [18][19] Financial Investments - Hebei District has invested 310 million yuan in rainwater network upgrades and pollution source management [6][14] - Red Bridge District has allocated nearly 1.5 billion yuan for the relocation and improvement of fishing villages along the Ziya River [16][17] Ecological Restoration - The ecological environment of the Daqing River has significantly improved through systematic governance, including the removal of pollution sources and the establishment of wastewater treatment facilities [20][21] - The Zhou River has seen a comprehensive approach to governance, including the relocation of residents and the establishment of wetland parks to enhance biodiversity [18][19]

Core Viewpoint - Shandong province has adopted a systematic approach to address river and lake governance challenges, focusing on "pollution co-governance, resource sharing, and ecological prosperity" to improve water quality and promote sustainable development [1] Group 1: Water Quality Improvement - The Yihe River has transformed from a polluted waterway to a scenic area, with local mineral water gaining popularity among tourists [3][4] - Significant efforts have been made since 2006 to control pollution sources, including shutting down over 290 outdated enterprises and implementing various ecological restoration projects [4] - A total of 231 water ecological protection and restoration projects have been implemented during the 14th Five-Year Plan, including the construction of over 120 artificial wetlands, enhancing the health of river and lake ecosystems [4][6] Group 2: Efficient Water Resource Utilization - Despite having several major rivers, Shandong faces a water scarcity issue, with per capita water resources at only 271 cubic meters, which is 12.9% of the national average [5][6] - The province has developed a "wastewater-reclaimed water-industrial water" recycling model, which has been promoted across 12 cities, achieving an annual reclaimed water utilization of over 1 billion cubic meters [6] Group 3: Green Economic Development - The integration of ecological resources in areas like the Bailu Bay Town has led to the development of a multi-industry cultural tourism model, attracting significant visitor numbers and generating revenue [7][8] - The ecological fishery development in the Xianshan Reservoir has produced over 2,000 tons of organic fish annually, creating jobs for around 12,000 local residents [8] - The governance of rivers and lakes in Shandong is increasingly linked with industrial development, forming a conversion pattern of "good water quality - beautiful scenery - economic value" [8]

Core Viewpoint - The construction of beautiful rivers and lakes is essential for enhancing the ecological environment and improving public welfare, reflecting the continuous improvement of water quality in China since the new era [1][2][3] Group 1: Water Quality Improvement - Since 2016, the comprehensive water environment management in Nanjing's Qinhuai District has transformed the Moon Lake from a "black and stinky lake" to a beautiful "underwater forest," now serving as a bird sanctuary [1] - By 2024, the proportion of national surface water quality classified as good (Class I-III) is expected to reach 90.4%, marking the first time it exceeds 90% [1] - The Yangtze River and Yellow River have maintained Class II water quality for five and three consecutive years, respectively, indicating significant ecological recovery [1] Group 2: Systematic Governance - The concept of beautiful rivers and lakes emphasizes the need for a systematic approach to integrate the protection and governance of mountains, waters, forests, fields, lakes, grass, and sand [2] - Collaborative governance is crucial for cross-regional river management, as demonstrated by the establishment of a pollution control coordination mechanism between Shenzhen and Dongguan, which improved the water quality of the Meizhou River from severe pollution to Class III [2] - The ecological compensation mechanism in the Xin'an River basin has effectively reduced pollution loads entering the lake, maintaining the water quality of Qiandao Lake at Class I [2] Group 3: Economic and Social Development - The construction of beautiful rivers and lakes is also a process of balancing high-level protection with high-quality development, as seen in Xuancheng, Anhui, where 18 eco-tourism sites and 1,072 homestays have been developed [3] - The exploration of innovative pathways for realizing the value of ecological products can facilitate the transformation from green mountains and clear waters to economic benefits, promoting a comprehensive green transition in socio-economic development [3] - The ongoing efforts to build beautiful rivers and lakes will contribute to a new landscape of green and high-quality development, benefiting the community and enhancing cultural vitality [3]

Core Viewpoint - The "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" has been officially released, marking a significant step in water management and ecological restoration in China [1][2]. Group 1: Action Plan Overview - The Action Plan aims to achieve a vision of "clear water and green banks, with fish swimming in shallow waters," focusing on the systematic protection of water resources, environment, and ecology [1]. - The plan is part of the broader "Beautiful China" initiative, emphasizing the importance of beautiful rivers and lakes as key components of ecological health [1]. Group 2: Economic and Social Implications - The construction of beautiful rivers and lakes is not only about ecological governance but also relates to economic development and the well-being of the populace [2]. - For instance, the governance of Shenzhen's Maozhou River has released 15 square kilometers of waterfront space, attracting over 180 technology companies [2]. - The integration of ecological value into economic development is highlighted, with examples from Zhejiang province exploring mechanisms to reinvest ecological funds into water improvement projects [2]. Group 3: Governance and Collaboration - The Action Plan emphasizes the need for coordinated governance across regions, addressing challenges in cross-regional collaboration for river and lake management [3]. - It proposes effective ecological flow guarantees for key rivers and lakes by 2027, promoting a comprehensive and multi-faceted governance approach [3]. Group 4: Ecological Restoration Focus - The Action Plan prioritizes quality improvement and efficiency, addressing not only water pollution but also ecological restoration [5]. - The significance of maintaining biodiversity through river and lake governance is underscored, linking ecological health to human well-being [5].

Investment Rating - The report maintains a "Buy" rating for key companies in the environmental sector, including Huicheng Environmental, GaoNeng Environment, and HongCheng Environment [5][36]. Core Insights - The report highlights the issuance of the "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" by the Ministry of Ecology and Environment and other departments, aiming for a 40% completion rate by 2027 and significant improvements by 2030 and 2035 [10][11]. - The report emphasizes the importance of industrial park wastewater treatment standards and the need for differentiated management based on the type of industrial park [23][35]. - The current macroeconomic environment, characterized by historically low interest rates, presents opportunities for high-dividend and growth-oriented assets in the environmental sector [2][36]. Summary by Sections Investment Views - The report discusses the "Beautiful Rivers and Lakes Protection and Construction Action Plan," which aims to enhance water ecological governance and attract social capital for joint management [10][22]. - It also mentions the release of technical guidelines for wastewater discharge standards in industrial parks, focusing on a classification management approach [23][35]. - The report suggests focusing on companies involved in environmental monitoring and treatment, such as JuGuang Technology and HongCheng Environment [22][35]. Market Performance - The environmental sector underperformed compared to the broader market, with a decline of 1.47% against a 0.57% drop in the Shanghai Composite Index [38]. - Notable stock performances include Shenwu Energy (+27.51%), Huicheng Environmental (+13.77%), and Anche Detection (+11.05%) [38]. Key Announcements - The report includes various announcements related to environmental policies and performance ratings of key industries in response to pollution control measures [49][50].

Core Points - The "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" has been officially issued by the Ministry of Ecology and Environment and six other departments, marking a comprehensive deployment for water ecological environment protection following the "Water Ten Measures" [1] - Beautiful rivers and lakes are a significant embodiment of "Beautiful China" in the water ecological environment sector, aiming for a harmonious relationship between humans and water [1] Summary by Categories Water Resources - The plan emphasizes the importance of water resources through the utilization of recycled water and ecological flow regulation, ensuring the presence of rivers and water bodies [1] Water Ecology - The action plan aims to rejuvenate water bodies and buffer zones, restoring native fish species and submerged plants to achieve a vibrant ecological landscape [1] Water Environment - Strict pollution discharge controls are mandated to ensure high water quality while accommodating citizens' recreational needs, promoting a harmonious living environment [1] Economic and Social Development - The construction of beautiful rivers and lakes is seen as a process that integrates high-level protection with high-quality development, transforming ecological advantages into developmental benefits [2] - The Ministry of Ecology and Environment has set ambitious targets, including a 40% completion rate for beautiful river and lake projects by 2027 and significant progress by 2030 and 2035 [2] Performance Metrics - As of 2024, the proportion of national surface water quality rated as good (Class I-III) is projected to be 90.4%, exceeding the "14th Five-Year Plan" target by 5.4 percentage points and improving by 7 percentage points since 2020 [2]

Group 1 - The implementation of the "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" will drive the development of multiple industries, with companies encouraged to pay attention to local policy implementation to seize market opportunities [1][6] - The plan sets three phased goals for the construction of beautiful rivers and lakes, aiming for a completion rate of approximately 40% by 2027, significant results by 2030, and basic completion by 2035 [1][6] - The plan emphasizes the need for a comprehensive ecological environment governance system that connects upstream and downstream areas, focusing on improving water ecological environment quality [4][5] Group 2 - The concept of beautiful rivers and lakes includes stable water resources, effective ecological function maintenance, and significant improvement in water quality, enhancing public satisfaction with the ecological environment [2][4] - The plan outlines specific measures for pollution control, including the investigation and remediation of pollution sources along riverbanks, and the construction of urban sewage collection and treatment facilities [5][6] - Key industries expected to benefit from the plan include environmental technology and water treatment, ecological restoration and landscaping, new energy and green shipping, agricultural pollution control, water conservancy engineering, ecological tourism, environmental monitoring, and green finance [6]

Core Viewpoint - The "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" has been officially released, marking a comprehensive strategic deployment for water ecological environment protection in China, following the "Water Ten Measures" plan [1]. Group 1: Action Plan Overview - The action plan signifies a shift from pollution control to a collaborative governance approach that integrates water resources, water environment, and water ecology [1]. - The plan sets strict standards for defining "Beautiful Rivers and Lakes," focusing on water resources, ecological restoration, and pollution control to achieve a harmonious relationship between humans and water [1]. Group 2: Goals and Timeline - By 2027, the goal is to achieve a construction rate of approximately 40% for Beautiful Rivers and Lakes; by 2030, significant progress is expected; and by 2035, the basic construction of Beautiful Rivers and Lakes should be completed [1]. - The action plan includes the entire main stream of the Yangtze River (6,300 kilometers) and the Yellow River (5,400 kilometers), as well as over 90% of the 210 key lakes and reservoirs nationwide [2]. Group 3: Focus Areas - The action plan emphasizes improving quality and efficiency, addressing not only water pollution but also water resource management and ecological flow guarantees [2]. - Small water bodies, such as ditches and rural ponds, are encouraged to be included in the Beautiful Rivers and Lakes initiative, provided they are managed according to local conditions [2].