Plantations are typically monocultures, which limits their sustainability. Therefore, understanding acclimatization strategies and resource use efficiencies in plant species and life forms aids the improvement of vegetation diversity and ecological functions. Here, 19 species from forest plantations in Fangshan, Beijing, China were studied. We determined their net photosynthetic (Pn), and transpiration rates (E), light response curve, stomatal conductance (gs), and leaf nitrogen (N) content. We analyzed the leaf N content (Nmass), specific leaf area (SLA), maximum net photosynthetic rate (Pnmax), water use (WUE), nitrogen use (NUE), and carbon use (CUE) efficiencies and connected them with both species and life forms. Pnmax, SLA, Nmass, WUE, NUE, and CUE significantly differed among species. Evergreen conifers had the lowest SLA and Nmass but the highest WUE and CUE. Evergreen coniferous trees had lower SLA, Nmass, Pnmax, and NUE but higher WUE than deciduous trees and shrubs. The SLA, Nmass, and Pnmax of nitrogen-fixing plants were the highest. A correlation analysis revealed that WUE was positively correlated with CUE and negatively correlated with NUE. Moreover, WUE was negatively correlated with Nmass and SLA. These insights into the adaptability differences of woody plant species and life forms provide a scientific basis for the selection of appropriate species for sustainable forest plantations.