Advancing the Circular Business Models in Developing Countries: Lessons from China

Abstract

In light of natural resource degradation becoming a dreadful problem for developing countries, adopting the circular business model within firms emerges as an effective means toward alleviation or eradication. Despite ongoing attempts, however, the majority of developing countries’ use of the circular business model remains modest. In this perspective, it is essential to reference the experiences of other emerging nations with highly developed circular business models. China, which has led the globe in promoting the circular economy, serves as a perfect model for developing nations to refer to and effectively use lessons acquired in constructing a circular business model. The purpose of this research is to provide clarity in communicating the concept of circular business models for practitioners and offer synthesis lessons for developing countries to implement circular business models successfully. This analysis conducts a literature review on China’s implementation strategies and obstacles to circular business models. Based on a review of the study, we contribute to the theoretical development of an effective circular business model and provide long-term circular business model transition experiences for developing nations.   Received: 12 September 2022 | Revised: 2 November 2022 | Accepted: 18 November 2022   Conflicts of Interest The authors declare that they have no conflicts of interest to this work.   Data Availability Statement Data sharing not applicable – no new data generated.