Abstract: The PEST analysis method was adopted to analyze the development of construction and demolition debris treatment industry in china from four aspects of political environment, economic environment, social environment, and technological environment. The change process of construction and demolition debris from “filling and discarding materials in gullies” to “green construction hubs” was sorted out and summarized from different perspectives such as development stage, policy standards, and process technology. The release time of relevant policy documents in the construction and demolition debris treatment industry was taken as the historical coordinate axis, the development process of the industry was divided into four stages: embryonic stage, transitional stage, development stage, and deepening stage. Based on the time points of various planning periods in China, a detailed analysis was conducted on the development of the industry chain and investment operation mode, as well as the influencing factors and development trends of the social and technological environment. It was pointed out that with the promotion of the “dual carbon” strategy, China’s urban and rural construction had opened a new chapter led by green transformation, and the construction and demolition debris treatment industry would always be an important theme for the development of China’s circular economy.

Key words: construction waste, PEST, double carbon goals, resource utilization