Aiming at the problems of high pipeline friction and low sand carrying capacity of conventional friction reducing fracturing fluid in shale reservoir fracturing operation, a new type of low-damage environmental friction reducing fracturing fluid system suitable for volumetric fracturing of shale reservoir has been developed by using new polymer drag reducing agent GZJ-3 as the main additive and other related additives. The comprehensive performance of fracturing fluid system has been evaluated in laboratory. The fracturing fluid system has good heat tolerance and shear resistance, and its viscosity can still be maintained at about 20mPa. s after shearing at 90℃ and 170S^-1 for 100 min. The system has a certain viscoelasticity and sand carrying capacity is obviously superior to conventional drag reducing fracturing fluid. When the flow rate is 3.0m³ /h, the drag reduction rate of fracturing fluid system can reach 66. 7% ,with low friction characteristics. The anti-swelling rate of the system can reach more than 90% , and it has good anti-swelling performance. Fracturing fluid system has low viscosity, surface tension and residue content after gel breaking, low matrix permeability damage rate to reservoir core, with low damage characteristics. Field test results show that the average sand ratio can reach 16.1 % by using the new low-damage environmental friction reducing fracturing fluid system, and it has good drag reduction performance, which can meet the requirements of displacement rate and sand loading for shale reservoir fracturing, and has a good application prospect.