Dr. Haifeng Huang

China 's Research Center for Economic Transition, Beijing University of Technology, China

The rapid growth of China 's economy is now accompanied by the over-exploitation of its natural energy resources. China 's current development model is dependent on the high-rate energy-consumption and it also accompanies by high-rate pollution that has direct consequences for the country's natural environment. The current model needs to be modified in order to address these encountered problems and we believe that the ‘circular economic model' could offer a solution.

The concept of the “circular economy” is an innovative economic model that works to maintain economic growth without negative impacts on the natural environment. Elements of this model have already been instituted in other countries and China should make use of the experiences of Western countries on circular economic development. Germany, Japan, the United States, and among others employ varying forms of legislation in regard to circular economic development and many examples of policy implementation now exist . Current global examples of effective circular economic policy include inter alia : preferential governmental policy, preferential taxation policy, pre-emptive governmental rights, charging policy, and taxation policy.