Ziyuan Kexue (Mar 2025)
Mechanism and practice of realizing the value of geothermal and mineral water resources
Abstract
[Objective] Against the backdrop of establishing and improving the value realization mechanism for natural resources and piloting the differential principal-agent mechanism for publicly owned natural resources as a new opportunity, this study explored how principal-agent mechanisms and market-oriented reforms jointly facilitate the value realization of geothermal and mineral water resources. [Methods] Guided by the practical needs of geothermal and mineral water resource valuation, this study examined their value realization through a logical framework: theoretical cognition-action mechanisms-practical logic-policy orientation. [Results] (1) Geothermal and mineral water resources possess the triple attributes of water resources, mineral resources, and ecological products. Their value realization follows a resource-asset-product evolutionary chain, achieved through upgrading and conversion along this chain. (2) The value realization of geothermal and mineral water resources relies on both rights allocation and market mechanisms. Establishing innovative entities for resource supply, operation, and empowerment can bridge mining rights allocation with market-based operations. This promotes the integration of principal-agent mechanisms and market-oriented reforms through supply-regulation separation, value chain extension, and value-added space expansion, ultimately unifying rights allocation and market operations. Essentially, it aims to achieve explicit resource valuation and enhanced allocation efficiency through adequate transactions. (3) The practical logic for integrating principal-agent mechanisms with market-oriented reforms to promote geothermal and mineral water resource valuation comprises: efficiency-driven value realization logic, two-stage integrated cooperation logic, and eight-phase implementation logic. The ultimate goal is efficient resource valuation, requiring deep integration of property rights allocation with market operations, implemented through eight sequential phases: exploration, valuation assessment, ownership confirmation, regulatory management, production, market operation, supply-demand matching, and enabling innovation. [Conclusion] To effectively advance the market-oriented reform of geothermal and mineral water resources and enhance their value realization capacity, corresponding policy orientations are proposed: establishing a natural resources operation platform, improving market allocation mechanisms, promoting industrial linkage development, and building premium aquatic product brands.
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