Abstract: The artificial intelligence industry is a typical representative of future industries and a strategic emerging industry that leads economic innovation and enhances national competitiveness. As a disruptive technology, generative artificial intelligence has become an important direction for the development of the artificial intelligence industry. Taking 23 provinces and cities in China as the research objects, this paper adopts the TOE theoretical framework and introduces the fsQCA method to explore the high-efficiency development path of China’s generative artificial intelligence industry from a configuration perspective. The research found that: (1) The generative artificial intelligence industry has four typical characteristics: innovation leadership, ecological synergy, radiation empowerment and market explosiveness. (2) There are five paths for the high-efficiency development of China’s generative artificial intelligence industry: organization-environment dual-wheel drive, technology-environment dominant, technology-environment synergy, factor aggregation comprehensive drive, and environment support. (3) Through configuration comparison, it is found that the high-efficiency development of China’s generative artificial intelligence industry requires the coordination of multi-dimensional factors, and the advantage of a single factor is difficult to support its sustainable development. The research conclusions provide policy basis and theoretical guidance for the government to formulate industrial development policies and enterprises to make the next strategic planning.