Chinese government has largely increased financial investment in early childhood education since 2010. With increased financial input，early childhood education change significantly and face the challenge of equality at the same time. This article briefly sketches central and local financial investment in early childhood education since 2010，and reveals the change of quality and standards in gross enrollment rate of three-year preschool，kindergarten scale，scale of kindergarten children，and supply and structure of public and private kindergartens according to the macro data in time order. This article also analyzes the challenge of education equality，which is specified in four aspects：（1）public finance tends to invest in public kindergarten，which children from high levels have more opportunity to enroll in；（2）tuition fees of generally-benefit kindergartens lay overloaded financial burden on low and medium income families；（3）there is a huge gap between rural and urban kindergartens in the quality of nurse and education；（4）the majority of peasant-workers’ children cannot be guaranteed access to preschool education with quality in city. Finally，this article will propose political suggestions to try to change the inequality in early childhood education.