By identifying entrepreneur’s social guanxi network as personal network, business network and political network, this paper is to empirically test the effect of the policy environment and guanxi network on entrepreneurial growth of micro-enterprises using the data of 230 micro-enterprises in Chongqing. The results indicate that the policy environment, business network and political network positively influence entrepreneurial growth of micro-enterprises. The results also show that the policy environment negatively moderates the relationship between the political network and entrepreneurial growth of micro-enterprises, which means that the good policy environment weakens the positive effect of the political on entrepreneurial growth of micro-enterprises in China.