Abstract: The purpose of researching the economic function of private international law (PIL)is to provide one of the fundamental theories for the economic analysis of PIL and to be beneficial for the discussing about the core theory and the development path of PIL. Using the methods of comparative analysis and empirical analysis, applying the basic theories of law and economics especially those of the property rights field, it first analyzed the existing viewpoints about the economic function of conflict laws and PIL and the function of PIL. Secondly, it discussed the contents of the economic function of PIL from the aspects of concept, subject, object, approach and effect in the allocation of jurisdiction. Finally it concluded that the economic function of PIL is to allocate the jurisdiction and to react to the economic system, with the former as the core function.