This presentation examines the paradoxical relationships between land financialization and ecological civilization, focusing on the case of Chongli, a mountain city co-hosting the 2022 Winter Olympics. Formerly a poverty-stricken mountain area, the Olympics catalyzed a Chongli model of territorial development with expanded transportation networks, a thriving winter sports economy, and real estate development. It signifies a shift in mountainous urbanization but also carries consequences.