At an accelerating development pace, Micro-Nano Satellite technology has become one of the most active research topics in the current aerospace field. Its applications have been extended from engineering education and technology demonstration into various other fields, such as communication, remote sensing, navigation and scientific experiments just to name a few. In this paper issues raised on Micro/Nano-Satellites in recent news are reviewed and the opportunities and challenges confronting Micro/Nano-Satellites are analyzed. Then the Micro/nano-Satellites of National University of Defense Technology(NUDT) are briefly introduced. Finally, some suggestions on the development of Micro/Nano-Satellites in the future are proposed. At an accelerating development pace, Micro-Nano Satellite technology has become one of the most active research topics in the current aerospace field. Its applications have been extended from engineering education and technology demonstration into various other fields, such as communication, remote sensing, navigation and scientific experiments just to name a few. In this paper issues raised on Micro / Nano-Satellites in recent news are reviewed and the opportunities and challenges confronting Micro / Nano-Satellites are analyzed. Then the Micro / nano-Satellites of National University of Defense Technology (NUDT) are temporarily introduced. Finally, some suggestions on the development of Micro / Nano-Satellites in the future are proposed.