Development of circular economy model: the case of China

Abstract

In today’s world, resource shortages and environmental problems have gradually become insurmountable obstacles to the economic development of all countries in the world, which is also particularly true for China. The traditional economic model of high energy consumption and high emissions can no longer meet the needs of current economic development. Therefore, the strong vitality of the economic model is particularly important. The author has determined the significance of circular economy to sustainable development of China. The evolution of China’s circular economy has been analysed, while the strengths and weakness of the Chinese model have been highlighted. The paper substantiates directions for future development of circular economy in China in the context of innovations, regulatory support, recycling, pilot projects of «waste-less city», and partnerships between the authorities, entrepreneurs and the public.