In order to solve the problem of poor salt tolerance of polymer emulsion thickening agent for fracturing and the poor stability of suspension thickener，based on the salt resistant associating polymer KFPY，the stabilizer，the particle size and proportion of the powder polymer thickener were optimized by determining the stability time and the bulk viscosity of suspension slurry thickener，the suspension emulsion thickening agent GAF-TE formula was formed as follows：48.5% white oil，1.5% emulsifying agent G10，5% organic modified bentonite and 45% salt resistant associating thickener KFPY. The performances of the GAF-TE including solubility，viscosity increasing，drag reducing and proppant transporting were evaluated in the formation water of Ma 18 well. The results showed that the dissolution time of 0.1% GAF-TE was 18 s，the viscosity was 2.19 mPa·s，and the drug reduction rate was 76.8% . The dynamic carrying capacity of the GAF-TE slickwater was better than that of the ordinary polyacrylamide emulsion. The surface tension of the GAF-TE slickwater was 26.8 mN/m，and the interfacial tension between the GAF-TE slickwater and the kerosene was 0.96 mN/m. The lower damage rate of the GAF-TE slickwater to core permeability was 6.97% . The GAF-TE had been applied in Xinjiang oilfield and showed good solubility，drug reduction and sand carrying performance.