Abstract: Under the strategic requirements of the “dual carbon” goals and the development of new quality productivity, it is of great significance to explore the development path of dual environmental regulation affecting new quality productivity to promote high-quality economic development and realize green and low-carbon transformation. Based on the panel data of 30 provinces, autonomous regions and municipalities in China, the measurement index system of dual environmental regulation and new quality productivity was constructed, and the entropy method was used to measure the indices’ s weights. The benchmark model, the regulation model and the threshold model were used to empirically analyze the impact of dual environmental regulation on the new quality productivity and the mechanism process. The results showed that, in the short term, when producers faced the compliance pressure of formal environmental regulations, they would reduce their innovation and produce a “crowding out effect” , thereby slowing down the promotion of new quality productivity. The intensity of R&D expenditure significantly moderated the interaction between the two. The positive impact of environmental regulation on new productivity was increasing with the increase of R&D expenditure intensity. Heterogeneity analysis showed that, the impact of formal and informal environmental regulation was different in different regions. Therefore, to achieve the coordinated development of environmental regulation and new quality productive forces, it is necessary to strictly implement environmental policies, strengthen environmental protection efforts, establish a differentiated and dynamic policy system, enhance policy adaptability based on local conditions, and strengthen the multi-stakeholder collaborative innovation mechanism.