To solve the bottleneck problem of funds for different groups of women to start a business or to be employed，in 2009，All-China Women’s Federation together with the Ministry of Finance，Ministry of Human Resources and Social Security，and the People’s Bank of China formulated and issued the“Notice on the Improvement of Microcredit Policy to Promote Women’s Entrepreneurship and Employment”. Since the implementation of women’s microcredit in China，this has been the first time that the Women Federation worked in collaboration with relevant government ministries to promote a policy to benefit women at the national level through full subsidy provided by the government financial departments. This paper introduces the background and characteristics this breakthrough，and discusses responsibilities of each department for its implementation. It also introduces the content and processes of the policy，identifies innovative approaches as well as effects and inspirations in its implementation in different regions，and proposes possible ways to improve the policy and its implementation.