Analyzing influential indicators in sustainable development of Guangdong Province: The role of circular economy

Abstract

The rising difficulty of economic planning due to of different impacted aspects and aims needs a thorough examination of important economic development criteria. While few variables in economic investigations lead to unrealistic conclusions, five indicators are used in this study to represent the circular economy, social, environmental, and energy consumption aspects of sustainable development (Total Energy Consumption, Birth Rate, Wastewater Treatment Rate, Number of Repairs Enterprises, and Number of Existing Environment and Public Facilities Management Enterprises). To evaluate the influence of the specified variables on the sustainable development of the study area, a current machinelearning method called XGBoost was designed. According to Guangdong Province, China panel data from 2010 to 2019, the circular economy is the top priority in sustainable development. The circular economy method of mending and reusing materials has a significant influence on sustainable development. Based on these findings, several policy proposals for proper economic growth in Guangdong Province while taking social and environmental concerns into account are made.