This study focuses on the relationships between wind velocity, temperature, water vapour, CO2, and the stability parameters over an alpine wetland. The turbulence data collected by a suite of instruments in the Maduo wetland, which is located at the source of the Yellow River (from June to August 2014), were used to study the characteristics of turbulence transport, turbulence kinetic energy, humidity variance, temperature variance, CO2 variance, and turbulence intensity. The results show that the normalized standard deviation of the wind velocity components (σu, σv, and σw) generally satisfies a 1/3 power-law relation. The values of σu,v,w/u* increase with increasing |(z − d)/L|. Moreover, the normalized standard deviation of the temperature, CO2, and water vapour is scatter under stable stratification at night. However, they increase as the absolute stability parameters decrease under unstable stratification. The results also indicate that the turbulent kinetic energy and turbulence intensity reach their peak values when the stability parameter is close to zero. When the wind velocity is less than 2 m/s, the turbulence intensities in the three directions decrease rapidly with increasing wind velocity. Moreover, the average value of CD (the overall momentum transfer coefficient) is significantly larger than those of CH (the sensible heat transfer coefficient) under different conditions. The bulk transport coefficient decreases as the stability increases. Finally, because of the high temperatures, the leaf stomata are nearly closed, and the pulse of the CO2 flux is very small at noon time. Meanwhile, the latent and sensible heat fluxes reach their maximum values.