Abstract：Based on the implementation of the extended producer responsibility (EPR) in the remanufacturing industry, a closed-loop supply chain was constructed, which included a manufacturer and a capital-constrained remanufacturer. The remanufacturing decisions of the closed-loop supply chain were analyzed in three scenarios, bank loan, direct loan from manufacturer, and delay in payment. The results indicate that the remanufacturer can choose to loan from manufacturers to achieve a win-win situation with manufacturers under certain conditions. Regardless of whether the EPR is strictly implemented, the strategy of delay payment can help improve social welfare and the social benefit of remanufactured products. When the government strictly implements the EPR, the recycling effort level of manufacturers and the manufacturing proportion of remanufacturers are related to the interest rate of financing loans, and the transfer price of scrap products is the key to whether manufacturers are willing to strictly implement the EPR.
