The invention relates to a micro-channel heat exchanger. The micro-channel heat exchanger comprises a plurality of flat pipes which are arranged parallelly along a direction vertical to the ventilation direction, and hollow collecting pipes which are arranged at the two ends of each flat pipe, wherein a heat exchange medium channel is formed in each flat pipe; the ends of the flat pipes are inserted into the hollow collecting pipes; the heat exchange medium channels of the flat pipes are communicated with hollow channels of the hollow collecting pipes; a water guide plate or a water guide sheet is arranged between two adjacent flat pipes and provided with a condensed water flow channel; and a ripple fin is arranged between the water guide plate or the water guide sheet and the adjacent flat pipe. The micro-channel heat exchanger can obviously improve the drainage effect. The invention also provides equipment using the micro-channel heat exchanger.