“…For long‐term water balance in large natural catchments, evapotranspiration can be regarded as the partitioning of precipitation which is serving as water availability in Budyko formulations () while water storage is assumed to be negligible (Donohue et al, 2010; Hobbins et al, 2001; Rodell, 2004; Xue et al, 2013). Recently, the estimation of water balance at finer time scales has attracted more attentions in many studies and these studies showed that the water storage change (including soil moisture and groundwater) played a significant role in annual water balance and made a great contribution to meet the deficit of water supply for crop water demand (Chen et al, 2018; Flerchinger & Cooley, 2000; Ghamarnia et al, 2013; Leblanc et al, 2009; Valayamkunnath et al, 2019). The application of equivalent precipitation incorporating water storage change is able to work better at improving the performance of Budyko predictions in annual scale (Chen et al, 2013; Istanbulluoglu et al, 2012; Naumburg et al, 2005; Wang, 2012; Wang & Zhou, 2016), especially for basins in arid and semi‐arid regions (Du et al, 2016; Milly & Dunne, 2002; Xing et al, 2018).…”