The co-operative reform of Chinese Rural Credit Co-operatives (RCCs) is developing gradually under government guidance since early 1980s. The purpose of this study is 1) to make a comprehensive study of the development of present reform, 2) to summarize the insufficiency of the studies that have been reported and illuminated, 3) to attempt a new method of study from the perspective of historical policy-management theory with attaching importance to the regional disparity of RCCs.