From the perspective of global environmental protection and energy-saving, the research and development on high-efficiency heat pump and refrigeration systems using environment-friendly refrigerants have become one of the most important issues in the air-conditioning and refrigeration sector. In the present work, a steady-state model of the CO<Sub>2</Sub> transcritical cycle for air cooling, which consists of a rotary compressor, a fin-tube gas cooler,a fin-tube evaporator and an expansion valve, has been developed. The detailed model of fin-tube heat exchanger has been constructed by means of the finite volume method, in which the local heat transfer and flow characteristics are evaluated. It should be noted that the effects of the dew condensation generated on the cooling surface are considered in the evaporator model. As a calculation example, the effects of the indoor air wet-bulb temperature on the cycle performance have been examined with this developed simulator.