Abstract: The protection of natural reserves is nothing else but protecting the nature itself, which can consolidate the foundation for the construction of the eco-civilization. However, it cannot be denied that China’s national nature reserves are faced with a realistic problem of fund shortage. To solve the problem fundamentally, it is necessary to clarify the responsibilities of the governments in their investments in conformity with the Constitution and the related laws, with the present finance system, and with the theory of public products. Accordingly, in order to carry out their responsibilities, the following measures should be taken: such as making clear the investment proportion between the central government and the local governments, issuing special lotteries for the natural reserve protection, budgeting the natural reserve protection fund separately, and?bringing the natural reserve management and protection into the officials’ performance appraisal.

Key words: natural reserve; ownership; governmental responsibility; invest