the microfinance achieved a great development in China since the 1990s.From the three aspects of the non-governmental organizations，governmental organizations and informal microfinance organizations，this article expounded the operational mechanism of microfinance systematically，and its current situation of Henan province.Based on the actual of Henan province，advised that it should be identify the market position，active innovation positively，in order to expand the microfinance market gradually，and develop sustainable.