  Within the framework of the non-relativistic QCD (NRQCD), we make a
systematical study of the yields and polarizations of $J/\psi$ and $\Upsilon$
via $\gamma \gamma \to J/\psi(\Upsilon)+\gamma+X$ in photon-photon collisions
at the Circular Electron Positron Collider (CEPC), up to $\mathcal
O(\alpha^{3}\alpha_s)$. We find that this process at CEPC is quite "clean",
namely the direct photoproduction absolutely dominate over the single- and
double- resolved processes, at least 2 orders of magnitude larger. It is found
that the next-to-leading order (NLO) QCD corrections will significantly reduce
the results due to that the virtual corrections to $^3S_1^1$ is large and
negative. For $J/\psi$, as $p_t$ increases, the color octet (CO) processes will
provide increasingly important contributions to the total NLO results. Moreover
the inclusion of CO contributions will dramatically change the polarizations of
$J/\psi$ from toally transverse to longitudinal, which can be regarded as a
distinct signal for the CO mechanism. However, for the case of $\Upsilon$, the
effects of the CO processes are negligible, both for yields and polarizations.
For $J/\psi$, the dependence of the yields on the value of the renormalization
scale $\mu_r$ is moderate, while significant for the polarization. The impact
of the variation of $\mu_{\lambda}$ is found to be relatively slight. As for
the case of $\Upsilon$, the uncertainties of $\mu_{r}$ and $\mu_{\lambda}$ just
bring about negligible effects. The future measurements on this semi-inclusive
photoproductions of $J/\psi(\Upsilon)+\gamma+X$, especially on the polarization
parameters of $J/\psi$, will be a good laboratory for the study of heavy
quarkonium production mechanism and helpful to clarify the problems of the
$J/\psi$ polarization puzzle.
