The invention provides an air-cooled 
heat pump circulating 
system and relates to heat exchangers of 
refrigeration systems. Air-cooled finned tube heat exchangers serve as the air-cooled 
heat pump circulating systems of both a condenser and an 
evaporator. The air-cooled 
heat pump circulating 
system comprises a shell-and-tube 
heat exchanger, an air-cooled finned tube 
heat exchanger, a compressor, a gas-liquid separator, a four-way 
reversing valve, a 
refrigeration non-return valve, a heating non-return valve, a 
refrigeration expansion valve, a heating expansion valve, a heating inspiration non-return valve, an exhaust corner valve, a liquid path stop valve and a liquid path 
drying filter, wherein the air-cooled finned tube 
heat exchanger is provided with a condenser gas header / 
evaporator gas return header, a condenser collector tube / 
evaporator gas return header, a condenser secondary distribution collector tube / evaporator liquid distribution header, a shunt head and shunt tube, a condenser exhaust head tube / evaporator gas return head tube and a condenser 
liquid phase tube. The air-cooled heat pump circulating 
system comprises two circulation processes of heating and refrigeration. In the two processes, the air-cooled finned tube heat exchanger has different single-circuit heat exchange tube lengths, circuit quantities and in-tube 
refrigerant mass velocities, and meanwhile, the 
heat transmission efficiency is optimized.