Since 2008 a series of financial policies have been introduced, microfinance development has entered a new stage. As a branch of microfinance, microcredit also ushered in a significant opportunity for rapid development. Commercial Banks, microcredit companies and other financial institutions have launched microcredit products for small and micro businesses and individuals. After a period of practice, there are a lot of problems remain to be solved. By analyzing the development stage of microcredit in China, this paper explores the existing problems in the development of microcredit in China and puts forward relevant suggestions on the premise of distinguishing the concepts of microfinance and microcredit.