Abstract: Under the background of consumers' environmental awareness, in order to analyze the impact of manufacturer's environmental protection efforts on the price, demand, profit and other decisions of node enterprises with or without government subsidies, and further explore the role of subsidies in various optimal decisions. The results show that:environmental protection efforts can increase the sales price of new products and remanufactured products, expand the demand for new products, but have no impact on the demand for remanufactured products; there is an optimal level of environmental protection efforts to maximize the profits of manufacturers and systems without government subsidies; within a certain range, subsidies can curb the increase of sales price of remanufactured products caused by environmental protection efforts, but have no impact on the price of new products, and higher subsidies may not bring higher profits to retailers; consumers' environmental awareness and manufacturers' environmental protection efforts can affect the quantity of product demand and enterprise income through government subsidies.

Key words: closed-loop supply chain, consumer environmental awareness, conservation effort, government subsidy, game theory