Financial inclusion aims to ensure social weak group and low income group to afford to timely and conveniently get financial service. Based on the measuring of comprehensive financial inclusion index of China’s 30 provinces and municipalities during 2006-2013, by using nonlinear time-varying factor model, this paper analyzes their regional characteristics of convergence and divergence, and the results show that China’s regional financial inclusion level has three convergence clubs, that most provinces belong to low level club, and that the division of clubs does not simply follow east, middle and west level. The further estimated results by Ordered Probit Model indicate that the places with big economic scale, with high urbanization level, with more open trade extent and with high information technology development level have bigger probability for belonging to high-level club of financial inclusion, however, the places with big governmental interference and with big income gap between urban and rural areas have bigger probability for belonging to low-level club of financial inclusion. The places in low-level club should further promote economic growth based on environment quality improvement and the places in the same club should enhance the cooperation of the economy and information technology.