International Telemetering Conference Proceedings / October 20-23, 2003 / Riviera Hotel and Convention Center, Las Vegas, Nevada / In this paper, based on the parallel move equivalent sequence of m sequence ,one type of CDM telemetry system is issued. Also the method for anti multi-path interference(MPI) of the system is proposed and its performance is analyzed. We proved that this system not only holds the merits which are inherent in common spread-spectrum communication system, but also has better transmission efficiency.