The implementation of extended producer responsibility (EPR) promotes upgrading and standardization of the recycling of waste electrical and electronic equipment (WEEE) in China, reducing the risk of environmental pollution. This paper discusses China's WEEE management via EPR and identifies the four phases and their features of the development of WEEE recycling since the fund subsidy scheme was implemented in 2012. Using GEM Co., Ltd. as an example, this paper explains how the recycling company closed the loop on WEEE recycling, improved the added value of dismantling WEEE through technological innovation, recycled high-quality secondary materials, established a whole waste plastics traceability system, and explored the non-fund subsidies for recycling WEEE. It is suggested that the government take new measures to eliminate outdated enterprises and promote a WEEE disposal industry in the direction of company groups. China might also vigorously advocate for new technologies and equipment to reduce labor costs and enhance the added value of dismantled products. Such efforts would encourage all enterprises to actively participate in EPR, strengthen their ability and willingness to recycle WEEE and reuse recycled materials, and build a closed-loop green supply chain for electrical and electronic products.