During the Olympics, Beijing had enough water. Now (suddenly!) there is a "grim shortage," and government officials have ordered the transfer of 300 million cubic meters from Hebei, which is already suffering a severe drought. (Beijing's annual consumption is 3.5 billion cubic meters.)
Bottom Line: Good news: Beijing will get the water. Bad news: Hebei loses it without warning. Typical news: Totalitarian governments do what they want.