Alpine treelines are thought to be controlled by low temperature, which affects tree physiology and limits growth. Irrespective of carbon and nutrient limitations are physiological mechanisms affecting the formation of alpine treelines still needs to be defined. We measured the rates of tree growth (basal area increment, BAI), nutrient concentrations in leaves and roots, foliar concentration of nonstructural carbohydrates (NSCs), and gas exchange in Pinus taiwanensis at five elevations (1200, 1400, 1600, 1800, and 2000 m) in the Wuyi Mountains, China. Leaves and roots were sampled twice (summer and winter). The soil nitrogen (N) and phosphorus (P) concentrations and BAI were measured during the summer. We analyzed the foliar traits in summer and winter. The N:P ratio was also analyzed. BAI decreased significantly as elevation increased, accompanied by increases in foliar NSC, N, and P concentrations in both summer and winter. The root P concentration increased with elevation in summer, but the foliar N:P ratio and root N and P concentrations were not affected by elevation in winter. Foliar photosynthesis and respiration did not change in winter, but increased in summer as elevation increased. These results suggest that C and nutrients may not be limiting resources in P. taiwanensis at this alpine treeline site, which instead may be controlled by temperature. P. taiwanensis at alpine treelines accumulates C and nutrient to increase its rates of biochemical reactions at low temperatures.