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 are used to empirically analyze the impact of dual environmental regulation on the new quality productivity and the mechanism process. The results show that in the short term, when producers face the compliance pressure of formal environmental regulations, they will 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 is increasing with the increase of R&D expenditure intensity. Heterogeneity analysis shows that the impact of formal and informal environmental regulation was different in different regions.