Abstract: Platycrater arguta Sieb. et Zucc. is a rare and endangered plant with a very narrow distribution area. In this paper, we investigated changes in the leaf functional traits and investment strategies of P. arguta communities distributed in Jiangxi Province, China, at different growth and development stages. We measured leaf thickness (LT), leaf area (LA), leaf water content (LWC), specific leaf area (SLA), leaf tissue density (LTD), leaf nitrogen (LNC) and leaf phosphorus content (LPC) per unit dry mass, and N/P ratio (N/P) in plants at different growth and development stages. Results showed that the leaf functional traits of P. arguta changed with growth and development in different patterns. LA, LTD, and N/P increased significantly with the growth and development process, while LWC, SLA, and LPC decreased significantly, and LT and LNC showed no significant changes. Principal component analysis (PCA) and PCA ranking indicated that the leaf functional trait syndrome of P. arguta plants changed toward increasing LT, LA, LTD, LNC and N/P, and decreasing SLA, LWC, and LPC with growth and development, suggesting that the growth investment strategy of the plants changed from fast-profit to slow-profit.