【摘要】 <正>我们时代的“大转型”从2020年底以来的十几个月中，我们在近五年内早已熟悉的政策框架与思想共识面临调整，一系列政策范式急速转型，并有种种意料之外的事件和后果，令海内外各种意义上的评论人、广义上的公共空间参与者以及学者们，都很难理解这一系列迅捷变革背后的总体逻辑。某种程度上，这一系列变化的冲击，也许并不亚于2020年初开始的疫情本身。2020年11月蚂蚁集团暂缓在沪港上市，也许是一个重要的开端，更多还原

【Abstract】 In The Great Transformation, Karl Polanyi theorized the seemingly cyclic double movements between forces of marketization and social protection. By overviewing the policy paradigm shift in contemporary China in the last year or two, this paper contends that these stringent new policies constituted part of the recent global wave of social protection, while the state was the sole agent. On the one hand, it aimed to redress the economic and social disparity brought by marketization, financialization, and platformization; on the other hand, it bypassed the necessary social realignment to support social protective policies and might very well end up in over-bureaucratization, conservative solidarity, and possibly also rent-seeki更多还原