Abstract: Government-oriented ecological compensation is based on the “Pigovian tax”, while the market-oriented ecological compensation is based on the “Coase Theorem”, each has its merits and demerits. The theory of multiple social objectivism from the international perspective points out that both the government-oriented and market-oriented ecological compensation should be effectively integrated, not only pursuing the maximization of efficiency and social welfare, but also paying attention to fairness and sustainable development. In China, the key to the integration of the two is to delegate powers to the market players, to adopt multiple and integrated models to solve the ecological compensation dilemmas caused by unclear property rights and ensure the right of economic freedom, and to leave the market to play the decisive role in resources allocation. The boundaries of government-oriented ecological compensation should be reasonably defined, so as to give better play to the government. It is necessary to strengthen the legal regulations and incorporate it into the framework of the rule of law, so that the effectiveness of the two configuration systems of the government and the market can be brought into full play. It is also necessary to mainly rely on the “Ecological Compensation Ordinance” to change the legislative thinking, establish the integrated legislative purpose of ecological compensation and the legal principles, carry out the related system construction, and coordinate through legislation the hidden conflicts brought by the integration .

Key words: government-oriented ecological compensation; market-oriented ecological compensation; effective integration; legal system