In new international climate change framework, the acquisition and allocation of adaptation funds are very important. In developing countries, in order to realize transparent, efficient and equitable adaptation funds allocation, scientific evaluation indicator system should be constructed. The most main factors for influencing climate change vulnerability are natural impact of climate change, national adaptation ability and executive ability. China should establish a series of indicators to realize transparent, efficient and equitable principle in adaptation funds allocation by the classification according to natural influence, adaptation ability (characterization vulnerability) and executive ability (characterization adaptation efficiency). Research results show that both natural influence and adaptation ability determine climate change vulnerability impact of a country, the more vulnerable a country is, the stronger the country wants to obtain the adaptation funds, e.g. many African countries need adaptation assistance including funds, projects and so on, meanwhile, the effectiveness of funds application can be realized by improving the executive ability of these countries.