To provide a perfluoropolymer capable of producing an electrolyte membrane excellent in electrical conductivity and mechanical strength under high temperature environment, as well as a liquid composition, a polymer electrolyte membrane, a membrane electrode assembly and a polymer electrolyte fuel cell, obtainable by using the perfluoropolymer. The perfluoropolymer of the present invention contains perfluoromonomer units, does not substantially contain units having a halogen atom other than a fluorine atom, does not substantially contain units having a ring structure, and has acid-type sulfonic acid groups, wherein the perfluoromonomer units contain at least one type of units A selected from the group consisting of perfluoro vinyl ether units and perfluoro allyl ether units; the ion exchange capacity is from 1.4 to 2.5 milliequivalent/gram dry resin; and the storage modulus at 120° C. is at least 60 MPa.
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