Improving the mechanism for realizing the value of ecological products is a crucial approach to implementing the concept that “lucid waters and lush mountains are invaluable assets,” and it holds significant importance for promoting the transformation of ecological value and the green transition of the economy and society. As China’s first pilot city for the ecological product value realization mechanism, Lishui City has consistently innovated in gross ecosystem product (GEP) accounting and the application of its outcomes, offering a model and reference for nationwide ecological product value realization. This study systematically examines Lishui’s exemplary practices in ecological product value realization across three dimensions: GEP accounting, application of accounting results, and safeguarding mechanisms. The findings demonstrate that Lishui has established a progressive framework of “standardized accounting—multi-scenario application—institutional safeguarding,” achieving full coverage of GEP accounting at the municipal, county, township, and village levels. It has pioneered the integration of GEP accounting results into strategic planning, economic development, ecological regulation, and performance evaluation, while establishing a robust safeguard mechanism for GEP application. Nonetheless, challenges still remain, such as an immature natural resource asset ownership system, insufficient market investment enthusiasm, difficulties in spontaneously forming effective trading markets for ecological assets and products, and limited financial institution participation. The study recommends further rationally defining the attribution of rights and responsibilities of ecological products, promoting market-oriented ecological product development, and exploring green finance innovation models to advance innovative practices.
Qiao et al. (Tue,) studied this question.