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This study explores adaptive strategies of epiphytic bryophytes in the understorey by investigating the photosynthetic characteristics, pigment concentrations and nutrient stoichiometry, as well as other functional traits of three trunk-dwelling bryophytes in a subtropical montane cloud forest in SW China. The results showed that their light-saturated net photosynthetic rate (Anmax−L), light saturation point (Isat), light compensation point (Ic) and dark respiration rate (Rd) wereca0.55, 106.72, 4.17 and 0.25 μmol m−2 s−1, respectively. Furthermore, the samples demonstrated photosynthetic down-regulation under high irradiance. These photosynthetic characteristics can be explained by higher total chlorophyll concentrations, specific leaf area, chlorophyll per unit leaf N (Chl/N), lower ratio of chlorophyllato chlorophyllb(Chla/b) and photosynthetic nitrogen-use efficiency. We suggest that the bryophytes adapted to the shaded understorey microhabitats through a series of correlations and trade-offs between functional traits. [ABSTRACT FROM AUTHOR]