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Abstract: |
Institution innovation is the inevitable choice for the development of circular economy, but it must be based on a certain economic theory. The circular economy in current society has become a new socio-economic operation mechanism. The new socio-economic operation mechanism must base on an appropriate system. For being protected, and to promote integration of its environmental behavior into the scope of efficiency and regulation of market constraints. Currently, as the ecological thought and ecological awareness gradually spreading and the growing understanding of the development of human civilization, the international community formed a broad consensus to the circular economy. Man must re-construct a new institutional framework and make a new institutional arrangement of the relationship between man and nature and human social relations of production, as for to develop circulating economy, to achieve the sustainable development. Hence, the developing of circular economy will be stifled without institution innovating.
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