Water resources is an integral part of the assets of natural resources. It is one of the most important, basic and active assets, which is directly related to the national economy and people’s livelihood. Based on the thorough analysis of the status quo of China’s water resources asset management, problems were pointed out from the perspectives of top level design, systematicity of policies, responsibility definition, public participation, and marketing tools. On the basis of clarified compilation principles and classified standards, the inventory of water resources assets possessed by the central government was compiled. Besides, the adjustments of the list were also put forward. On this basis, the management objectives and ideas of water resources assets were clarified and the management systems were established at the national, ministerial, watershed and local levels.