Under the situation of existing serious discredit phenomenon in the development of Chinese market economy, the Government greatly promotes social credit system construction in recent years, so as to stop the extension of illegal and discredit conducts. There also exist problems of excessive punishment and overdue correction in credit regulation with main points of discredit publicity and joint punishment with warning, which requires improving and perfecting credit regulation through establishment of credit repairing mechanism for the purposes of protecting legal rights and operation chance of market subjects as well as resolving lack of credit problem and illegal discredit. This article aims to probe the channel and gist of credit repairing to resolve conflict between the above two purposes, which includes the three parts as follows: firstly demonstrating contents structure and operation mechanism of credit repairing, then making analysis of problems in such mechanism and influence on market subjects, and clarifying the relation between credit repairing and credit regulation and its necessity, and finally making discussion and analysis of operation mechanism, existing problems, enforcement channel and perfecting measures for credit repairing.