By virtue of ecological advantages, Quzhou City is an important ecological shield for Zhejiang Province. The Green Gold Index (GGI) can measure and evaluate the results of transformation of ‘lucid waters and lush mountains’ (LWLW) to ‘gold and silver mountains’ (GSM) and help Quzhou City to better implement the theory of ‘lucid waters and lush mountains are invaluable assets.’ The GGI refers to the ratio of gross ecosystem product (GEP) to gross domestic product (GDP). According to the results of this study, the GGI for Quzhou City reached 3.04 in 2015, indicating that the value of ecological resources of the city is far greater than previously thought. There is huge potential for transforming ecological factors into production factors, and consequently turn ecological wealth into material wealth. In terms of regional comparison, Quzhou City presents a much higher GGI than the national average (1.01), and 6, 22, and 10 times higher than Zhejiang Province, Shanghai, and Jiangsu Province in the Yangtze River Delta, respectively. Therefore, Quzhou City secures a prominent lead and has an obvious advantage over the neighboring Anhui and Jiangxi provinces. This study suggests that Quzhou City should actively harness its rich ecological resources and open transformation channels from LWLW to GSM, so as to create win-win benefits among economic, ecological, and social dimensions.