In reference to the index calculation method proposed by M. Sarma, combined with China’s actual economic situation, nine economic indicators are selected to calculate the inclusive financial index of China’s provinces and cities. On this basis, a study has been carried out on the impact of inclusive finance on economic growth by citing the economic data of China’s 30 provinces from 2006 to 2017, and by using fixed effect model and dynamic panel data model based on DiffGMM. The results of inclusive financial index show that in the past decade, China’s overall inclusive financial level has made some progress, while with a considerable regional discrepancy. The empirical analysis shows that the inclusive finance plays an important role in promoting economic growth, but its contribution is not significant in the long run. Therefore, great efforts should be made to explore long-term complementary mechanisms for inclusive financial development and economic growth, enhance economic growth potential and accelerate economic development.