Unlocking the Value of Nature: A Deep Dive into China’s Ecological Product Realization and Its Driving Mechanisms

Abstract

Amidst severe ecological challenges and resource constraints, realizing the value of ecological products—such as timber, non-timber forest products, and ecosystem services like carbon sequestration and biodiversity conservation—has emerged as an innovative approach within the realm of paying for ecosystem services. This study examines 35 cases of ecological product value realization in China, using a comprehensive analytical framework encompassing policy support, market participation, and resource endowment utilization. Utilizing a qualitative comparative analysis method (cs-QCA), the study explores the driving mechanisms behind ecological product value realization. These findings indicate that policy guidance and planning are indispensable for realizing ecological product value. Additional factors, such as fiscal and financial support, leadership from pioneering enterprises, product innovation and promotion, and the utilization of both natural and human resources, play varying roles across different grouping paths to varying degrees. The study uncovers the following three typical driving mechanisms: government-led; government–market hybrid; and integrated type. The study reveals that each region should choose an appropriate path based on its unique conditions. This research significantly enhances the theoretical understanding of ecological product value realization and provides a scientific foundation for policy formulation and practical applications.

1. Introduction

Rapid economic development fosters social prosperity but also poses ecological challenges, including environmental pollution and the depletion of natural resources. In response to the ecological challenges posed by rapid economic development, the concept of “paying for ecosystem services” has gained prominence as a crucial strategy for promoting green sustainable development. In the international scientific context, ecosystem service compensation follows the definition provided by Sven Wunder in his key research on the subject, namely, voluntary transactions based on a contractual agreement between at least one beneficiary and one additional environmental service provider [1]. Recently, international organizations such as the United Nations Environment Programme (UNEP) and the International Union for Conservation of Nature (IUCN) have advocated for the sustainable use and protection of the environment through policy formulation and concept dissemination. Consequently, nations worldwide have actively innovated green development models [2,3]. Among these, the realization of ecological product value, akin to payment for ecosystem services [4], plays a pivotal role in promoting ecological protection and restoration, fostering green economic development, and enhancing public environmental awareness. Notably, ecological products, which encompass a wide range of goods and services, such as timber, non-timber forest products, and ecological tourism, play an essential role in this green development paradigm [5]. These products not only contribute to economic growth but also underpin biodiversity conservation and ecosystem resilience. This significant green development approach has been explored and implemented in various countries [6].

The Chinese government places great emphasis on realizing ecological product value and issued the “Opinions on the Establishment of a Sound Mechanism for the Realization of the Value of Ecological Products” in April 2021 to officially promote the establishment of experimental and pilot sites. Following the policy’s release, scholars have observed notable achievements in China’s ecological product value realization. Wu et al. [7] and Xie et al. [8] found that most cases have achieved remarkable results, contributing to the continuous improvement of national ecological civilization. Zhang et al. [9] used Changzhou as a case study and discovered that land ecological integration can effectively enhance ecological hope and promote the realization of ecological product value. However, research on promoting ecological product value realization remains limited despite the importance of achieving ecological civilization construction goals. Therefore, further research is required in this regard.

Driven by the pressing issue of ecological product value realization in China and related policies, Chinese scholars have intensified their exploration of the pathways, modes, and driving mechanisms for ecological product value realization across various provinces [10,11]. For instance, Qiao et al. [11] employed an evolutionary game model to investigate the potential mechanisms of forest carbon bill systems, using Sanming City in Fujian Province as a case study. Song and Du [12] explored the driving mechanism of ecological product value realization through green finance intervention and support utilizing land-use data from China. While these studies address the pathways, modes, and models of ecological product value realization from the perspective of value realization, they fail to examine the mechanisms that drive this process.

Addressing challenges such as ecological product scarcity, uncertainty in the quantity and ownership boundaries of natural resource utilization assets, and a limited ecological compensation model [13], existing studies have comprehensively defined and analyzed the ecological product value accounting method and the pathway for realizing ecological product value. However, there remains a lack of systematic research on the deeper driving mechanisms of ecological product value realization based on a multi-case analysis. Furthermore, insufficient research has been conducted to analyze and refine the driving path of ecological product value realization in the context of China’s national conditions, explore the characteristics of different mechanisms and their significance for urban development, and deepen the relevant theoretical mechanisms.

Therefore, it is of profound theoretical significance and practical application value to analyze and extract different driving mechanisms for ecological product value realization in several ecological product value realization cases and explore different driving mechanisms and realization paths for China’s urban development, expanding on the theory of payment for ecosystem services and optimizing the ecological product value realization system and thesis system. In view of this, (1) what factors can drive the realization of ecological product value? (2) What configuration conditions do these factors constitute? And (3) How do these configuration conditions drive ecological product value realization are considered as research topics?

In the research process, we utilized fsQCA software (version 3.0) to analyze 35 existing cases of ecological product value realization in China. The primary innovation of this study lies in its analysis and refinement of the diverse driving mechanisms influencing ecological product value realization through multiple successful cases. Specifically, the contributions of this study include the following: (1) We systematically examine the multiple factors and their interactions that affect ecological product value realization. By applying fsQCA 3.0, we uncover the driving effects of various grouping conditions on ecological product value realization, offering a fresh perspective for a deeper understanding of the intricate mechanisms underlying ecological product value realization; and (2) Based on a multi-case analysis, we refine the driving pathways and modes of ecological product value realization that align with China’s national conditions. This provides practical guidance for different cities to select appropriate ecological product value realization strategies tailored to their unique characteristics, thereby facilitating the regional differentiation of eco-civilization construction.

2. Literature Review

The realization of the value of ecological products has emerged as a significant approach to natural resource management in China. In recent years, advancements in green technology, government policies, and gross ecosystem product (GEP) have sparked academic interest in the realization of ecological product value and its underlying mechanisms. This study critically reviews the conceptual framework, research perspectives, methodologies, influencing factors, and transformation pathways associated with ecological product value realization based on existing research.

First, we discuss the concepts and theoretical framework of ecological products. The concept of ecological products has been proposed as a new concept in China. The concept of ecological products in China is similar to the foreign concept of “eco-labelled products”, or essentially closer to “ecosystem services”. According to the National Main Functional Area Plan issued by the State Council of China, ecological products can be defined as the natural elements that provide a good living environment, such as fresh air, clean water, a pleasant climate, and maintaining the ecological environment, which is the concept behind early ecological products. Nowadays, the concept of ecological products not only includes the maintenance of ecological safety, ecological regulation function, providing a good living environment and other natural factors, but also includes green organic food and eco-industrial products produced through green manufacturing, energy conservation, waste recycling, and other methods [14,15]. Ecological products can be categorized into the following three types based on the degree of publicness and provision/consumption methods: public ecological products; commercial ecological products; and quasi-public ecological products. First, public ecological products provide ecosystem services with broad societal impacts, exhibiting non-rivalry and non-excludability; their externalized value is compensated by the government. Second, commercial ecological products leverage natural resources and realize their value through market-based operations. Third, quasi-public ecological products represent those falling between the public and commercial categories [4,16].

According to the classification by the Chinese Academy of Environmental Planning for estimating Gross Ecosystem Product (GEP), the value of ecological products encompasses both natural and economic values, including both market and non-market values. The realization of their market value necessitates the exchange of use value, akin to other products. The distinctive aspect of realizing ecological product value lies in the transformation of non-market value, which often requires ecological restoration, compensation, and other governmental interventions to address market failures [17]. Several studies have explored the realization of ecological product value from various perspectives such as capital cycle theory and dual-carbon strategies. Wang et al. [18], for instance, emphasize the significance of well-defined rights and high-quality ecological products for the capitalization of ecological resources and the role of ecological restoration from the perspective of capital cycle theory. Zhang et al. [19] incorporated a dual-carbon strategy into the assessment of ecological product value (EPV) and attempted to construct an indicator system that quantitatively assessed EPV from the perspective of carbon peaking and carbon neutrality. Similarly, Xie et al. [20] explored the driving mechanism of ecological product value (EPV) realization by constructing a multilevel evaluation index system based on the DPSIR model from a system perspective. However, existing studies primarily focus on theoretical constructions and lack in-depth analyses of actual cases. Some studies have focused on specific regions or types of ecological products, making it challenging to comprehensively reflect universal patterns in ecological product value realization. In response, this study adopts a multi-factor and multi-case perspective to study the driving mechanisms of ecological product value realization, which encompass different regions and types of ecological products, thereby revealing the commonalities and characteristics of value realization across various contexts.

Second, we examine the factors that influence the driving mechanisms for realizing ecological product values. This process is influenced by numerous factors; numerous scholars have conducted research focusing on the impacts of policies, technologies, and other variables. Wang et al. [21] discovered that technological advancements encompassing technological change and technological efficiency improvements serve as a potent driving force for realizing the value of forest ecological products in Zhejiang Province. Similarly, other scholars found that green technology positively influenced the realization of ecological product value in a case study conducted in Chengdu City, China. Furthermore, Peng et al. [22] investigated the influence of financial, social, cultural capital, human capital, and other resource endowments on the realization of ecological product value, promoting the realization of site ecotourism product value to varying degrees. However, these studies may have overlooked the complexity and multidimensional nature of ecological product value realization. By contrast, the advantage of conducting a multifactor analysis of the driving mechanism for realizing ecological product value lies in its ability to provide a more comprehensive and in-depth understanding, thereby revealing the interactions and impacts among different factors.

Third, we conducted a path analysis of the realization of ecological product value. Essentially, the realization of the value of ecosystem products in China involves the rational and efficient monetization of the ecological values of mountains, rivers, forests, and fields [23]. To date, numerous scholars have outlined and summarized various models and pathways for realizing the value of ecological products. Internationally, there is experience in wetland mitigation banking in the United States [24] and biodiversity offsetting in New South Wales, Australia [25]. In China, models and mechanisms for realizing the value of ecological products have been explored in cities such as Lishui and Nanping. Overall, the “three-part division” of ecological products—public, quasi-public, and commercial—and the corresponding “three paths” for realizing their value—the government path, government–market hybrid path, and market path [26]—have gained widespread scholarly recognition. The government path involves government-led initiatives to realize the value of ecological products through transfer payments and purchases. Second, the government–market hybrid path entails cultivating market transaction entities and realizing the value of ecological products through franchising, ecological product development, and other means. Finally, the market path emphasizes the role of market transaction laws, allowing for autonomous transactions between parties and realizing the value of ecological products through ecological industrialization, ownership transactions, green finance, and other major avenues. Ultimately, the market path is centered on market transaction laws, enabling autonomous transactions between parties and realizing the value of ecological products through methods such as ecological industrialization, ownership transactions, and green finance [18]. It is evident that path analysis of ecological product value realization is a multidimensional and interdisciplinary research field that encompasses economics, ecology, policy management, and other aspects.

In summary, existing studies have largely defined the concept of ecological product value realization, which entails the efficient monetization of the ecological value of mountains, water, forests, and fields in China. Domestic scholars have conducted research and analysis on ecological product value realization from the perspectives of capital cycle theory and dual-carbon strategy using the DPSIR model. They also explored the impact of policies, technologies, and other factors on this realization. However, the current research has several shortcomings, including a lack of substantial case-based research, research methodologies focused on single cases or factors, inadequate comprehensive analyses of technological means and policy impacts, and insufficient exploration of the synergistic effects of multiple conditions. To address these shortcomings, this study utilizes fsQCA 3.0 to comprehensively apply both quantitative and qualitative research methods; conduct an in-depth analysis and discussion of the driving mechanisms of ecological product value realization; summarize and refine typical paths for realizing ecological product value; and innovate the driving mechanisms of ecological product value realization. This approach aims to compensate for the limitations of existing research and expand the theoretical framework of ecological product value realization.

3. Study Design

3.1. Theoretical Framework

The realization of ecological product value is a multifaceted process influenced by various factors, including market mechanisms and governmental actions. One key aspect of this process is paying for ecosystem services, which involves recognizing the value of natural resources and compensating those who maintain or enhance them. By implementing mechanisms to pay for ecosystem services, we can incentivize sustainable practices and ensure that the benefits of healthy ecosystems are equally shared among all stakeholders. Therefore, it is imperative to adopt a multidimensional, comprehensive analytical framework. This study conducts comprehensive research on the factors influencing the driving mechanisms of ecological product value realization. It organizes and summarizes the influencing factors of policy support, market participation, and resource endowment utilization across three levels, and utilizes these levels to establish a multidimensional analytical framework for a thorough examination of ecological product value realization. First, regarding policy support, the successful implementation of most ecological product value realization cases cannot be divorced from the macro control exerted by government policies, particularly in relation to ecological protection and compensation policies. Furthermore, local government policy support fosters local cooperation mechanisms, thereby facilitating the realization of ecological product value. Second, in terms of market participation, the realization of ecological product value requires not only the macro control of policies, but also the guiding role of the market in transforming the ecological value of products into economic value, thereby enhancing the realization of ecological product value. Finally, concerning resource endowment utilization, the circulation of natural capital drives the production of ecological products and sustains policy support for the development of individuals, families, enterprises, and society as a whole. In this regard, natural capital serves as a cornerstone of ecological product value realization [27]. Given the complexity and flexibility inherent in studying the driving mechanisms of ecological product value realization, the theoretical framework proposed in this study is adaptable (Figure 1). Subsequently, this study elaborates on the sub-elements of each of the three element levels.

First, policy support can be divided into the following two sub-elements: policy guidance and planning; and financial support. Policy guidance and planning are essential for the successful realization of ecological product value. During this process, the government conducts comprehensive planning of local ecological resources to ensure protection. For instance, Zhejiang Province has implemented a spatial planning program for its sea area, promoting the realization of marine ecological product value through the establishment of marine protection zones, prohibited development zones, and ecological protection red lines [28]. Regarding financial support, the government’s role primarily involves ecological compensation, which is a coordinated measure aimed at balancing regional ecological rights and interests. A study on China’s watershed ecological compensation, focusing on ecosystem services, examined the spatiotemporal flow of water resources within the natural–social system and water pollution in watersheds. The study found that establishing a watershed ecological compensation mechanism helps to mitigate water usage conflicts and ultimately maximizes the interests of all stakeholders [29].

Second, market participation encompasses the following two sub-elements: leading enterprise-driven growth; and product innovation and promotion. Within the framework of the modern market economy, the integration and synergistic development of multiple industries have emerged as significant drivers for realizing the value of ecological products. Leading enterprises in the market play a pivotal role in providing a broader platform for the innovation and promotion of ecological products through technological exchanges, resource integration, and market expansion across various industries. Product innovation and promotion are vital to the process of realizing the value of ecological products. These initiatives facilitate the effective circulation and value maximization of ecological products by offering services such as information exchange, transaction aggregation, price discovery, and risk management. Taking China Shennongjia National Park as an illustrative example, the Shennongjia forestry region has formulated a relevant program aimed at facilitating the realization of ecological product value. This includes fostering the growth of the ecological agriculture and forestry industry, while vigorously developing ecotourism. Additionally, the establishment of the the Shennongjia “Two Mountains Bank” has been proposed to promote the development of commercial banks in conducting green credit business, thereby advancing the industrialization and capitalization of the industry. Consequently, mechanisms and models tailored to realize the value of ecological products in national parks have been established.

Third, resource endowment utilization constitutes a crucial aspect. This encompasses the following two subcomponents: the utilization of natural resources; and the utilization of humanistic resources. The significance of natural resource utilization as a driving factor in realizing the value of ecological products cannot be overlooked. This includes, but is not limited to, natural elements such as climate, soil, topography, and biology. On the one hand, climate change impacts the provision of ecosystem services by altering land use cover, ecosystem structure and composition, and resource use intensity. On the other hand, topography influences the spatial distribution of hydrothermal resources and affects various environmental conditions and ecological processes, such as actual solar radiation, temperature, soil mineralization rate, and vegetation distribution, which directly determine the supply and maintenance of ecosystem services [30]. In terms of humanistic resource utilization, sustainable urban development hinges on green development, which relies on technology and innovation [31]. Hariadi et al. [32] conducted a study on green product humanistic resource utilization in corporate enterprise development and found that green product humanistic resource utilization enhances the sustainable production process system and promotes the research and development of environmentally friendly green innovations. This indicates that green product humanistic resources are a technical factor that influences the realization of the value of ecological products, which is linked to the ability to achieve the high-quality development of ecological products.

3.2. Qualitative Comparative Analysis

Qualitative comparative analysis (QCA) has been extensively utilized in social resistance research because of its capacity to manage multi-case comparative research data effectively and systematically [33,34]. QCA is categorized into clear set (cs-QCA), fuzzy set (fs-QCA), multivalued set (mv-QCA), and temporal set [35] versions. cs-QCA was initially developed for the examination of small- and medium-sized sample contexts and later evolved into fs-QCA and mv-QCA based on its foundational principles. It is particularly good at dealing with complex situations where the effects of multiple factors are intertwined, taking into account the interaction between various factors, and revealing a combination of key factors that influence the outcome. At the same time, the cs-QCA approach is suitable for small- and medium-scale case analyses, which are useful in many practical studies, especially in early exploratory studies where only a limited number of cases can be collected. In this way, researchers can reveal the effects of different combinations of factors on results and gain insight into how complex systems operate. In addition, cs-QCA analysis can provide strong support for decision making and enhance the scientific nature of decision making. Specific noun concepts and explanations are described in

Table 1. Noun concepts and explanations.

Concepts	Explanations
Variable design	Selects and simplifies variables based on theory or experience and converts them into binary forms to explore the combined effects of multiple conditional variables on the resulting variables.
Coding instructions	Converts variable information from the original data to 0 and 1 (or binary variables) for subsequent logical analysis and configuration comparison.
Analysis of necessity conditions	Determines which conditional variables are necessary prerequisites for the result variable to occur.
Truth table construction	Lists all possible combinations of conditions and assigns one result value to each combination to analyze which combinations of conditions can lead to a specific result.
Conditional configuration analysis	Determines conditional variables based on research problems and explores which combination of conditional variables can lead to specific results through logical analysis and truth table construction.

. To date, cs-QCA has been applied across various disciplines, including sociology, political science, management, economics, psychology, and beyond. The dichotomous value-taking approach of cs-QCA offers a unique advantage by detaching research from the asymptotical perspective, which can sometimes be employed in a manner akin to the gradualist perspective—a potential pitfall in comparative methods. This approach aids in conducting rigorous comparisons of a limited number of inherently complex cases through simplification [36]. The cs-QCA methodology is pertinent to this study, as it analyzes the influences and pathways that drive the value realization of ecological products from technological, organizational, and environmental perspectives, with the successful realization of ecological product value serving as the outcome variable.

3.3. Case Selection

QCA does not require a large sample size, as it can be applied to any sample ranging from 15 to 80, and offers a significant advantage for the study of small- and medium-sized samples, where variables are primarily dichotomous [37]. Initially, based on Typical Cases of Ecological Product Value Realization (Batches 1–4) issued by the Ministry of Natural Resources, People’s Republic of China, 40 cases of ecological product value realization were included in the preliminary screening scope. Subsequently, based on the criteria for variable selection and the presence of missing data, 35 cases were selected for analysis. These cases were categorized into the following three types based on their attributes: public; commercial; and quasi-public ecological products (see Supplementary Materials).

3.4. Variable Design and Coding Instructions

In this study, 35 cases of ecological product value realization from Typical Cases of Ecological Product Value Realization (the first batch), Typical Cases of Ecological Product Value Realization (the second batch), Typical Cases of Ecological Product Value Realization (the third batch), Typical Cases of Ecological Product Value Realization (the fourth batch) were selected as research cases for this paper. The success in driving the value realization of ecological products was taken as the outcome variable. Whether or not policy guidance and planning are involved, and whether financial support is involved, were taken as the condition variables of policy support. Whether or not there was a leading enterprise to drive and whether or not there was a complete product innovation and promotion were taken as the condition variables of market participation. Whether or not there was a rich use of natural resources or the use of humanistic resources were taken as the condition variables for the use of resource endowment.

In this paper, the six conditional variables are coded as dichotomous assignments: those involving policy guidance and planning were coded as “1”; those not involving policy guidance and planning were coded as “0”. Those involving financial support were coded as “1”; those not involving financial support were coded as “0”. Those involving leading enterprise-driven growth were coded as “1”; those not involving leading enterprise-driven growth were coded as “0”. Those involving product innovation and promotion were coded as “1”; those not involving product innovation and promotion were coded as “0”. Those involving the adequate utilization of natural resources were coded as “1”; those involving the underutilization of natural resources were coded as “0”. Those involving humanistic resource utilization were coded as “1”; those involving no humanistic resource utilization were coded as “0”. The outcome variable, success in driving ecological product value realization, was coded as “1”. Further details are provided in

Table 2. Description of condition variable selection and coding.

Condition Variable		Coding Instructions	Frequency	Encodings
Policy support	Policy guidance and planning	Involving policy guidance and planning	33	1
		Not involving policy guidance and planning	2	0
	Financial support	Involving financial support	13	1
		Not involving financial support	22	0
Market participation	Leading enterprise-driven growth	Involving leading enterprise-driven growth	20	1
		Not involving leading enterprise-driven growth	15	0
	Product innovation and promotion	Involving product innovation and promotion	18	1
		Not involving product innovation and promotion	17	0
Resource endowment utilization	Natural resource utilization	Adequate utilization of natural resources	16	1
		Underutilization of natural resources	19	0
	Humanistic resource utilization	Involving humanistic resource utilization	17	1
		Not involving humanistic resource utilization	18	0

.

4. Results

4.1. Analysis of Univariate Necessary Conditions

Using the qualitative comparative analysis (cs-QCA) method, a univariate necessary condition analysis was conducted using fsQCA 3.0. The results indicate that policy guidance and planning consistently exceed a threshold of 0.9 in successfully driving the realization of ecological product value, suggesting that it is a necessary condition for ecological product value realization. In contrast, the consistency of the other factors was below 0.9, indicating that these were not necessary conditions. These results suggest that factors beyond policy guidance and planning cannot independently influence ecological product value realization, implying that the driving mechanism of ecological product value realization is the result of the combined influence of multiple factors. Therefore, further analysis of various combinations of antecedent variables is necessary to explore how different pathways composed of multiple elements drive the realization of ecological product value. The results of the univariate necessity analysis are presented in

Table 3. Analysis of necessity conditions.

Condition Variable		Outcome Variable Realization	Degree of Coverage
		Consistency
Policy support	Policy guidance and planning	0.9429	1
	~Policy guidance and planning	0.0571	1
	Financial support	0.3714	1
	~Financial support	0.6286	1
Market participation	Leading enterprise-driven growth	0.5714	1
	~Leading enterprise-driven growth	0.4286	1
	Product innovation and promotion	0.5143	1
	~Product innovation and promotion	0.4857	1
Resource endowment utilization	Natural resource utilization	0.4571	1
	~Natural resource utilization	0.5429	1
	Humanistic resource utilization	0.4857	1
	~Humanistic resource utilization	0.5143	1

.

4.2. Truth Table Construction

After conducting the necessary conditions analysis, it is necessary to construct a truth table using the qualitative comparative analysis (fsQCA) 3.0 software. In accordance with the default cut-off point for constructing the truth table in fsQCA 3.0, values greater than 0.8 are recorded as “1”, while values less than 0.8 are recorded as “0”. To obtain the truth table, the calibrated data should be input into fsQCA 3.0, with the resultant variable set to Y. Subsequently, combinations of conditions without the case configurations were eliminated. For further details, see

Table 4. Truth table.

Policy Guidance and Planning	Financial Support	Leading Enterprise-Driven Growth	Product Innovation and Promotion	Natural Resource Utilization	Humanistic Resource Utilization	Y	Raw Consist
1	0	0	0	1	0	1	1
1	0	1	1	0	1	1	1
1	1	1	1	1	1	1	1
1	1	0	0	0	0	1	1
1	0	1	0	0	0	1	1
1	1	0	1	0	0	1	1
1	0	0	1	0	0	1	1
1	0	1	1	1	0	1	1
1	0	1	0	1	1	1	1
1	0	0	0	0	0	1	1
1	0	1	1	0	0	1	1
0	1	1	1	0	0	1	1
1	0	1	0	1	0	1	1
1	1	1	0	1	0	1	1
1	0	0	0	0	1	1	1
1	1	1	0	0	1	1	1
1	0	0	1	0	1	1	1
1	1	0	1	0	1	1	1
1	1	1	1	0	1	1	1
0	0	0	0	1	1	1	1
1	0	0	0	1	1	1	1
1	1	1	0	1	1	1	1
1	0	1	1	1	1	1	1

.

4.3. Conditional Configuration Analysis

fsQCA 3.0 provides three distinct types of pathways for various combinations of conditionals as follows: complex solutions; intermediate solutions; and simple solutions. The primary distinction between these solutions is the inclusion of logical residuals. Specifically, the complex solution excludes any logical residuals, the intermediate solution includes only those logical residuals that align with the theoretical direction, and the simple solution encompasses all logical residuals, but features the lowest number of combined paths. Given that the intermediate solution is more parsimonious than the complex solution and more reliable than the simple solution, this study analyzed the intermediate solution.

In this study, the default settings for consistency and frequency were established at 0.8 and 1, respectively, with a proportional reduction in inconsistency (PRI) consistency threshold exceeding 0.9. Subsequently, we identified the success-driven elemental configurations for ecological product value realization resulting from the interaction among the three dimensions of technology, organization, and environment. The analysis in

Table 5. Path analysis.

Condition Variable		Government-Led		Government-Market Hybrid		Comprehensive Type
		Configuration 1	Configuration 2	Configuration 3	Configuration 4	Configuration 5	Configuration 6
Policy support	Policy guidance and planning	√	√	√	√	√	√
	Financial support		⊗	⊗			●
Market participation	Leading enterprise-driven growth	×	×	√	√		√
	Product innovation and promotion		×	√	×	√
Resource endowment utilization	Natural resource utilization	⊗			●	⊗
	Humanistic resource utilization	⊗				●	●
Typical case serial number		1, 3, 4, 10, 15, 17, 34	1, 6, 7, 14, 24, 32	2, 5, 21, 23, 30, 33, 35	11, 16, 19, 28, 31	2, 18, 21, 26, 29, 30	8, 11, 12, 13, 22, 29
Original coverage		0.2000	0.1714	0.2000	0.1430	0.1714	0.1714
Unique coverage		0.1714	0.0286	0.0286	0.0857	0.0571	0.1143
Consistency		1	1	1	1	1	1
The coverage of the solution					1
The consistency of solution					1

Note: √ and ● denote the enablers involved in the portfolio path, where √ denotes a core enabler and ● denotes a secondary enabler; × and ⊗ denote the constraints involved in the portfolio path, where × denotes a core constraint and ⊗ denotes a secondary constraint.

reveals that the dimensions of policy support, market participation, and resource endowment utilization intersect to form six organizational paths, all exhibiting a solution consistency and coverage of one, indicating their effectiveness. These six elemental combinatorial paths were deemed necessary to successfully drive the realization of ecological product value. A horizontal examination of Table 5 highlights the frequent occurrence of the following three conditional variables: policy guidance and planning; enterprise leadership; and product innovation and promotion. This suggests that these variables play a pivotal role in successfully driving the realization of ecological product value.

As demonstrated in Table 5, six pathways elucidate the driving mechanism of ecological product value realization. Each vertical column in Table 5 represents the potential grouping of conditions. Notably, the solution consistency is 1, indicating that all cases (100%) meeting the three dimensions of ecological product value realization—policy support, market participation, and resource endowment utilization—successfully achieved this value. Additionally, the solution coverage is also 1, suggesting that these six grouped conditions can fully explain (100%) all cases of successful ecological product value realization. Both the consistency and coverage of the solution exceeded the critical values, thereby validating the results. These six pathways serve as necessary conditions for the realization of ecological product value. Policy guidance and planning play dominant roles in these pathways. Leading enterprises play a dominant role in three pathways and a limiting role in two pathways. Product innovation and promotion play a driving role in two pathways and a limiting role in two pathways. Financial and fiscal support drive one pathway and restrict two pathways. Natural resource utilization drives one pathway and restricts two pathways. Humanistic resource utilization drives two pathways and plays a dominantly restrictive role in one. Based on the analysis, the six pathways are categorized as follows: government-led; government–market hybrid; and integrated type.

4.3.1. Government-Led Realization Mechanisms

Based on the results presented in Table 5, grouping paths 1 and 2 were consolidated into the government-led grouping path, as depicted in Figure 2. This path highlights the prominent role of government behavior in facilitating the realization of ecological product value. Policies play a crucial role in guiding and planning ecological resources and protecting and managing ecological nature reserves. However, financial support does not serve as a primary driver in this context. Specifically, grouping path 1 has an original coverage of 0.2 and a unique coverage of approximately 0.17, with a consistency of 1. This implies that 20% of the successful cases can be attributed to this path; however, 17% remain uncovered. Similarly, grouping path 2 has an original coverage of approximately 0.17 and a unique coverage of approximately 0.03, with a consistency of 1, indicating that it accounts for approximately 17% of successful cases but that 3% are uncovered.

The ecological restoration and comprehensive development of the Wuyuan Bay Area in Xiamen City, Fujian Province, China, serves as a quintessential example of the government-led grouping path. Before the government regulation, due to overexploitation, the dumping and stacking of domestic waste and other reasons, the inner bay water environment pollution of Xiamen Wuyuan Bay Area became more serious, and the quality of the water drastically decreased, causing serious damage to natural ecosystems in the area. In 2002, the Xiamen Municipal Committee and Municipal Government initiated the ecological restoration and comprehensive development of Wuyuan Bay Area. After more than 10 years of restoration and comprehensive development work, the ecological value, social value, and economic value of the region have been fully enhanced. First, the Municipal Land Development Center, on behalf of the municipal government as the owner’s unit, was responsible for the planning and design of the district, land storage and fund-raising, joint city road and bridge group and other construction units, the overall promotion of environmental governance, ecological restoration, and integrated development. Second, ecological restoration and protection projects were implemented. The government, as the main body, carried out the water environment management, gradually restored the marine water ecological environment and promoted the construction and comprehensive development of public facilities in the region. On the basis of reserve lands, the comprehensive development of the Wuyuan Bay Area was comprehensively promoted to lay the foundation for improving the habitat environment and realizing the value of ecological products.

4.3.2. Government-Market Hybrid Realization Mechanism

Based on the results presented in Table 5, pathways 3 and 4 are merged into a government–market hybrid pathway, as illustrated in Figure 3. Within this pathway, government behavior is no longer the sole driver of ecological product value realization, as the involvement of market participants introduces complexity and diversity in this process. Both government actions and market mechanisms play complementary and synergistic roles in promoting the realization of ecological product value. The government fosters a conducive external environment for ecological product development, promotion, and consumption by formulating policies, providing compensation, regulating the market, and guiding investments. Specifically, pathway 3 has an original coverage of 0.2 and a unique coverage of approximately 0.03, with a consistency of 1. This suggests that 20% of the successful cases can be explained under this scenario; however, there remains a 3% unexplained portion. Similarly, pathway 4 has an original coverage of approximately 0.14, and a unique coverage of approximately 0.09, with a consistency of 1, indicating that it accounts for 14% of successful cases but leaves 9% uncovered. “Chaka Salt Lake” in the Haixi Mongol and Tibetan Autonomous Prefecture, Qinghai Province, China, exemplifies this pathway. “Chaka Salt Lake” is the first green salt production base in China, with a history of 3000 years of salt mining. Qinghai excavates lake salt resources, promotes the integration of cultural tourism, industry and agriculture, and creates a “big tea card” tourism complex to realize ecological and industrial green development. The core mechanism relies on the advantages of resources to promote industrial development, give full play to the ecological, landscape, cultural and economic value of the salt lake, and realize the comprehensive benefits of natural resource assets. Salt-lake management enterprises use the right of management to promote “culture + tourism + industry” integration and to develop a green energy industry. In addition, the Qinghai government has guided leading enterprises to invest in ecological industrial parks to realize the diversification of the value of natural resource assets, economic development, and mass revenues. Specific practices include, as follows: (1) accelerating the development and protection of salt lake resources, improve utilization efficiency, rational planning and mining, developing a series of salt products, controlling waste emissions, and promoting the use of industrial salt value-added products; (2) planning for the comprehensive utilization of salt lake resources, developing ecotourism and new energy industries by first building and operating cultural travel companies, expanding the resource value to realize channels and industrial chains, and then by developing green energy industries; and (3) exploring the mechanism of residents participating in tourism development, establishing a pro-poor industrial park, relying on the needs of salt lake scenic areas to drive the collective economic development of villages, teach salt carving technology, develop characteristic guesthouses, and encourage farmers and herders to increase their harvests.

4.3.3. Integrated Type Realization Mechanism

Based on the findings in Table 5, the modal pathways 5 and 6 were consolidated into an integrated type pathway, as depicted in Figure 4. Within this pathway, policy support, market participation, and resource endowment utilization collectively drive the realization of ecological product value. These elements are intertwined and constitute the driving mechanism for the realization of ecological product value. Specifically, pathway 5 has an original coverage of approximately 0.17 and a unique coverage of approximately 0.06, with a consistency of 1. This indicates that pathway 5 can explain approximately 17% of successful cases in driving ecological product value realization; however, there remains a 6% unexplained portion. Similarly, pathway 6 has an original coverage of approximately 0.17 and a unique coverage of about 0.114, with a consistency of 1, suggesting that it accounts for 17% of successful cases but has a 11.4% unexplained portion. A typical case explained by the integrated type pathway is the “forest ecological bank” in Nanping City, Fujian Province, China. Nanping City is rich in natural resources; however, economic development is lagging and the dispersion of forest rights makes it difficult to aggregate resources. To solve this challenge, Nanping City has been piloting a “forest ecological bank” in Shunchang County since 2018, drawing on the commercial banking model, building a natural resource management platform, integrating fragmented resources, introducing social capital, and transforming ecological resources into economic advantages. Specific practices include, as follows: (1) the government-led establishment of an operating company and a comprehensive mapping of the forest resources floor to promote the transfer of resources to achieve capitalization, and to provide a variety of transfer ways to safeguard the interests of forestry and agriculture; (2) the establishment of a forestry financing guarantee company to solve financial needs; and (3) carrying out large-scale, specialized, and industrialized development and operation, improving the quality and value of forest resources, developing a diversified forestry industry, and exploring the marketing of forest carbon sink products to realize ecological product value.

5. Discussion

Based on an analysis of 35 cases of ecological product value realization, this study employs qualitative comparative analysis methods to investigate the driving mechanisms underlying this phenomenon. We find that the realization of ecological product value, including paying for ecosystem services, is influenced by various factors such as policies, technology, and resources. This study delves deeper into these influences and identifies three typical driving mechanisms, as follows: government-led; government–market hybrid; and integrated type. Consequently, this study integrates the theoretical framework of ecological product value realization driving mechanisms with the factors influencing such a realization. Specifically, a qualitative comparative analysis was conducted on the 35 cases using fsQCA software (version 3.0) to perform comprehensive, quantitative, and qualitative analyses. The findings of this study are as follows.

Among the various factors influencing the realization of ecological product value, previous research has primarily concentrated on the impacts of policies, technology, resources, and other factors. For instance, studies have found that environmental policy regulation has the potential to enhance the ability of green innovation to achieve ecological environmental protection and thus promote the realization of ecological product value [38]. Yang et al. [13] identified that factors, such as market trading platforms, brand building, and industrial integration, can affect the value realization of ecological products within the ecological industry. However, this study delves deeper into the subtler influences stemming from policy, market, and technology factors, including policy guidance and planning, and trading platforms. The analysis results revealed that not all influencing factors exhibited a positive driving effect. According to the findings of this study, policy guidance and planning under policy factors play pivotal roles across the three driving mechanisms. In contrast, financial support within the government-led and government–market hybrid driving mechanisms does not stimulate market advancement. Leading enterprise-driven growth by market participation plays a significant role in the government–market hybrid and integrated type driving mechanisms but hinder the government-led driving mechanism. Similarly, leading enterprises under the government–market hybrid and integrated type driving mechanisms exhibit a promoting role but a hindering one under the government-led driving mechanism. Technological innovation plays an important role in promoting ecological management innovation, improving resource efficiency and promoting the development of environmentally friendly industries. However, the case exploratory analysis, using the cs-QCA method, showed that technology innovation had less of an impact on the study’s 35 cases. Therefore, we combined technology innovation with government behavior and market mechanisms into an integrated type.

In exploring a pathway for realizing the value of ecological products, Yu et al. [39] examined the Qilihai Wetland in Tianjin and distinguished between the logic of “transformation” through marketization and the logic of “protection” through government supervision. Qiao et al. [10] on the other hand, proposed a “social-economic-natural” case study model for the sustainable development of the non-timber forest products industry by analyzing cases in Jinping County, Guizhou Province. Despite these contributions, there remains a lack of a systematic theory on the driving mechanisms of ecological product value realization in China. Addressing this theoretical gap, this paper makes the following contributions: after analyzing 35 cases using fsQCA 3.0 software, six group state paths were identified, which were further generalized and refined into three typical driving mechanisms, as follows: government-led; government–market hybrid; and integrated type driving mechanisms. The government-led mechanism focuses on government behavior, where the government takes the initiative to protect the regional ecological environment and provides financial support for the realization of ecological product value, thereby achieving efficient monetization of ecological value. The government–market hybrid mechanism combines government action and market participation to jointly promote the realization of ecological product value. The government provides a stable external environment through policy support and the designation of nature reserves, while the market offers a trading platform and mechanism for the rational and efficient monetization of ecological value, diversification, and facilitation of the process. The integrated type mechanism, driven by multiple factors, leverages regions’ inherent resources in realizing ecological product value and ensures reasonable and efficient monetization through trading platforms or mechanisms under the external environment created by the government.

Our research is based on 35 ecological product value realization cases in China. An in-depth analysis of China’s case presents three methods with which to refine the value of ecological products. The study has some significance as a reference for common problems related to ecological product value realization in other countries such as optimizing ecosystem service supply capacity; improving the governance and sharing of intergovernmental ecological environmental protection data; refining the accounting method of ecosystem service; and improving the mechanism development of ecosystem service value of agroforestry [40,41]. However, unlike foreign ecological product value realization cases, China’s 35 cases are based on China’s national conditions and socio-economic development. In the process of ecological product value realization, the government plays an important role; the government-led ecological product value path integrates the whole process to achieve an efficient operation mechanism. Therefore, other countries should draw on the experience of China and learn from it. In addition, we find that there are still many obstacles or challenges to optimizing ecological products value realization mechanisms. For example, in practice, there are problems, such as poor policy implementation and poor regulation in some regions, which lead to inadequate policy effect and have impeded the realization of ecological product value. The market development of some ecological products is not yet mature and the market mechanism is not perfect, resulting in difficulties in obtaining reasonable pricing and adequate trading for some ecological products. There are also problems related to the inadequate or unreasonable use of resource endowments in some areas. For example, some regions are too dependent on traditional resource development methods and neglect the conservation and sustainable use of ecological resources.

Based on the study, we make the following policy recommendations. First, policy guidance and planning should be strengthened. The results show that policy guidance and planning are key to the successful realization of ecological product value. Policymakers should therefore allocate more resources; develop comprehensive and strategic plans consistent with local ecological resources and economic objectives; and strengthen market platform building and integrated strategies that address regional strengths. They should focus not only on short-term objectives, but also on a long-term vision to ensure sustainable development. In addition, there should be a clear emphasis on promoting the integration of ecological restoration and economic development projects. By providing clear policy instructions and implementing a road map, governments can encourage stakeholder investment and participation in activities that contribute to the realization of ecological product value. Second, the participation of market players should be promoted and market innovation should be strengthened. While policy support is critical, the participation of market participants is equally important. The analysis shows that leading enterprise-driven growth and product innovation and promotion contribute significantly to the realization of ecological product value. Therefore, policies should be developed to motivate market participants, especially leading companies, to invest in ecological projects. This can be achieved through tax breaks, subsidies, or other fiscal incentives. In addition, governments should establish product innovation and extension platforms, such as eco-industrial parks or green technology incubators, to facilitate the development and commercialization of new ecological products. By fostering a market-oriented approach, governments can use market forces to drive the realization of ecological product value. Third, resource allocation should be optimized and resource efficiency should be improved. The efficient use of resource endowment is another cornerstone of ecological product value realization. The study found that natural and human resources all play an important role in this process. Policymakers should therefore prioritize the development and implementation of strategies that maximize the use of these resources. This includes investing in infrastructure to improve the accessibility and quality of resources and to promote the unique value of local human resources. In addition, governments should encourage community participation in resource management and decision-making processes to meet legitimate local needs. By optimizing resource endowment and utilization, governments can take full advantage of the potential of ecological resources and promote economic and ecological benefits.

6. Conclusions

In the context of China’s pursuit of a green, sustainable, and healthy economic model, the concept of paying for ecosystem services has emerged as a pivotal strategy for realizing ecological product value. By examining cases where this approach has been implemented, it has become evident that paying for ecosystem services not only incentivizes the preservation and restoration of ecosystems but also fosters a more equitable distribution of the benefits derived from these natural assets. By analyzing typical cases of ecological product value realization in China using the theoretical framework of this paper, we employed qualitative analysis and comparison software (fsQCA 3.0) to analyze and process the three dimensions of policy support, market participation, and resource endowment utilization. The following conclusions were drawn.

First, the sub-element of policy guidance and planning can serve as a standalone necessary condition for driving the realization of ecological product value. However, the remaining elements cannot independently fulfill this role. Instead, it is only when the six grouped pathways, which are collectively comprised of three conditions—policy support, market participation, and resource endowment utilization—are considered together that they can constitute a necessary condition for driving the realization of ecological product value.

Second, in this case study on ecological product value realization, group paths 1 and 3 are the most effective in driving ecological product value realization with the highest path coverage. This indicates that numerous regions in China successfully drive the realization of ecological product value through the following two modal paths: policy guidance and planning; and policy guidance and planning led by leading enterprises promoting product innovation. Additionally, most cities adopt the market transaction mode to market ecological products and transform ecological benefits into economic benefits. Furthermore, cities often integrate primary, secondary, and tertiary industries to expand economic benefits, thereby successfully driving the realization of ecological product value. In the process of driving ecological product value realization, each city in China selects grouping paths that align with its urban ecological situation based on its ecological, resource, and economic advantages. Specifically, cities with robust economic development and strong government support should adopt the government-led grouping paths 1 and 2. For cities with good economic development, strong government policy support, and a well-established market platform and mechanism for realizing ecological product value, the government–market hybrid grouping paths 3 and 4 can be adopted. Cities with a favorable geographical location, strong government support for ecological protection, high levels of economic development, and the capacity for integrated multi-industry development should adopt the government-led grouping paths 1 and 4 or the integrated type pathway, consisting of paths 5 and 6.

This study examined the mechanisms behind ecological product value realization, focusing on policy support, market participation, and resource endowment utilization in China. While the qualitative data have a solid basis in research, there are limitations to the study, namely the lack of more quantitative methods to validate identified paths. In future studies, we will incorporate quantitative analysis methods to more accurately measure and evaluate the specific impacts of different factors on the path of ecological product value realization, thus further improving the accuracy and reliability of the research. This will help us to deepen our understanding of ecological product value realization mechanisms and will provide a stronger scientific basis for policy development. Future research could adopt an international perspective, explore the evolution of drivers and pathways with technological advancements, and conduct further quantitative analyses to understand the specific influence of each factor. Additionally, policy recommendations should be evaluated with empirical data for more precise guidance. Ultimately, research should align with sustainable development goals, ensuring ecological security and social equity through interdisciplinary knowledge, methodologies, and collaborative efforts. Ongoing exploration and research can contribute to global environmental protection and sustainable development.