The Circular Economy is a new sustainability paradigm that has gained increasing attention in academia, industry, and policy. This paper explores the conceptual relationship between the Circular Economy and sustainability, aiming to clarify their similarities and differences. Through a comprehensive literature review, the authors identify eight types of relationships between the two concepts. The Circular Economy is characterized by the minimization of resource input, waste, and energy leakage through the slowing, closing, and narrowing of material and energy loops. Sustainability, on the other hand, is defined as the balanced integration of economic, social, and environmental performance for the benefit of current and future generations. Both concepts emphasize the importance of system-level changes and the integration of non-economic aspects into development. However, they differ in their origins, goals, motivations, institutionalization, and timeframes. The Circular Economy is often seen as a condition for sustainability, a beneficial relationship, or a trade-off. The paper concludes that the Circular Economy is an emerging topic with significant research interest, particularly in China and Europe. The study highlights the need for further research to explore the relationship between the Circular Economy and other concepts such as the Performance Economy, Sharing Economy, and new business forms. The paper also emphasizes the importance of analyzing the actual impacts of Circular Economy initiatives on the triple bottom line and their contribution to strong sustainability and slower forms of consumption. The study suggests that future research should focus on the broader implications of the Circular Economy for supply chains, business models, and innovation systems.The Circular Economy is a new sustainability paradigm that has gained increasing attention in academia, industry, and policy. This paper explores the conceptual relationship between the Circular Economy and sustainability, aiming to clarify their similarities and differences. Through a comprehensive literature review, the authors identify eight types of relationships between the two concepts. The Circular Economy is characterized by the minimization of resource input, waste, and energy leakage through the slowing, closing, and narrowing of material and energy loops. Sustainability, on the other hand, is defined as the balanced integration of economic, social, and environmental performance for the benefit of current and future generations. Both concepts emphasize the importance of system-level changes and the integration of non-economic aspects into development. However, they differ in their origins, goals, motivations, institutionalization, and timeframes. The Circular Economy is often seen as a condition for sustainability, a beneficial relationship, or a trade-off. The paper concludes that the Circular Economy is an emerging topic with significant research interest, particularly in China and Europe. The study highlights the need for further research to explore the relationship between the Circular Economy and other concepts such as the Performance Economy, Sharing Economy, and new business forms. The paper also emphasizes the importance of analyzing the actual impacts of Circular Economy initiatives on the triple bottom line and their contribution to strong sustainability and slower forms of consumption. The study suggests that future research should focus on the broader implications of the Circular Economy for supply chains, business models, and innovation systems.