A continuous gas phase circulating bed reactor, including: a riser for contacting a catalyst and a first gas composition comprising an olefin to form a polyolefin under fast-fluidization regime or a dilute-phase pneumatic conveying regime conditions; a downer for contacting the catalyst and a second gas composition comprising an olefin to form additional polyolefin under fast fluidization regime or a dilute-phase pneumatic conveying regime conditions; and a transport section for conveying at least a portion of the catalyst, polyolefin, and additional polyolefin from the downer to the riser. Also disclosed is a polymerization process using such a circulating bed reactor.