| This study is focusing on China, a well-known developing country with the largest population worldwide, to explore the relationship between having a better financial condition and reporting a higher level of life satisfaction. As for China, it is especially important to pay attention to people’s self-rated life satisfaction, which is a good reflection of their mental health, while the government is making great effort to develop the economy. The database being used in this thesis is Chinese General Social Survey (CGSS), which includes a broad range of data and is nationally representative as the sample covers all provinces in China. The independent variable is the total annual income of the respondents, the dependent variable is respondents’ self-rated life satisfaction levels. The other six control variables are also included. The adopted research methods are the quanlitative research and quantitative analysis by using Ordered Logistic Regression. Through this paper, it is not strong to conclude that a satisfied life comes along with good financial condition, or rural people have higher odds to report higher life satisfaction. However, this study suggests that a Chinese’s income rank, marriage status, education level and employment status may have more significant contributions to his life satisfaction level. Based on the results, this study suggests that China can learn from Mexico’s Progresa program, which enables poverty alleviation while also promotes the education level of low-income people. Moreover, the future Labor Law amendment can introduce the flexible working hour policy and flexible leave system to enhance employed individuals’ life satisfaction. |
