We proposed a scheme of continuous-variable quantum key distribution, in which the bright Einstein-Podolsky-Rosen entangled optical beams are utilized. The source of the entangled beams is placed inside the receiving station, where half of the entangled beams are transmitted with round trip and the other half are retained by the receiver. The amplitude and phase signals modulated on the signal beam by the sender are simultaneously extracted by the authorized receiver with the scheme of the

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... -coding correlation measurement for continuous quantum variables, thus the channel capacity is significantly improved. Two kinds of possible eavesdropping are discussed. The mutual information and the secret key rates are calculated and compared with those of unidirectional transmission schemes.