27 Chinese provinces' panel data from 2009 to 2018 are used study the supply efficiency and its changes of farmland water facilities by using SBM-Malmquist and Tobit model is applied to analyze the factors, with results showing an overall declining trend of supply efficiency, from 0.707 to 0.704, varying with geographical regions, northern, northeastern, eastern, central south, northwestern and southeastern in a decreasing order. The efficiencies reach up to 1 in northern and northeastern at the end of the study period. China's average total factor productivity of farmland water conservancy facilities supply is falling in a fluctuated way, mostly contributed by lagging technical advances. Regional economy and farmland water conservancy facilities investing structures cast a positive influence on the supply efficiencies with regression coefficients of 3.02 and 2.19 respectively. The better economy and the larger investment ratio on farmland water facilities, the higher supply efficiencies.The efficiencies are adversely affected by the proportion of farmers income from salary and rural illiteracy rate. Areas with higher proportion of farmers income from salary and higher illiteracy rate have accordingly low farmland water conservancy facilities supply efficiencies due to farmers' low will in investment. Regression results which have been verified by replacing dependent variables, supplementing missing variables, sub-samples regression and lagging variables regression are of good robustness. This paper presents suggestions on increasing farmland water conservancy facilities investment, boosting water conservancy facilities supply, optimizing rural administrative organizations and encouraging farmers' participation, aiming at improving China's farmland water conservancy facilities supply efficiencies and accelerating agricultural modernization.

To develop the cycling economy is a necessity for sustainable development of society. This paper, based on the cycling economy theory, analyzes the cumbers from many views, and presents some approaches to the cycling economy and to the economic growth means.