2009年,美国太平洋投资管理公司最早提出“新常态(New Normal)”这一概念,以描述国际金融危机后的欧美发达经济体很难回到之前经济稳定增长的状态,其主要含义是:低增长率、高失业率或将长期持续、企业利润缩减、资本回报率将降低。但是经过了五年的时间,世界经济的发展态势已经偏离了经济“新常态”特征的描述,此时亟需对世界经济新常态赋予新的含义。在此背景下,中国经济也面临着“双重新常态”的机遇与挑战。 In 2009, CPP first proposed the concept of “New Normal” to describe the fact that the developed economies in Europe and the United States after the global financial crisis are struggling to return to their previous stable economic growth. The main implication of this is : Low growth, high unemployment or long-term sustainability, corporate profits reduced, the return on capital will be reduced. However, after five years, the development of world economy has deviated from the description of the “new normal” character of the economy. At this moment, it is urgently necessary to give new meaning to the new normal of world economy. Against this background, the Chinese economy is also facing the opportunities and challenges of “double normality.”