From the point of view of property right rank system, the concept of water rights in TRB was defined. The main body, object, rights, characteristics and categories of water rights were analyzed. The allocation of water rights in TRB was divided into two phases, including the initial allocation and reallocation. In the paper, the choice of water rights allocation mode in two phases was discussed. The factors influencing the choice of water rights allocation institution were analyzed. The values of ...