This paper examines the consequences of China's dramatic socioeconomic and political transformations for individual subjective well-being (SWB) from 1990 to 2007. Although many still consider China to be a collectivist country, and some scholars have argued that collectivist factors would be important predictors of individual well-being in such a context, our analysis demonstrates that the Chinese are increasingly prioritizing individualist factors in assessments of their own happiness and life satisfaction thus substantiating descriptions of their society as increasingly individualistic. While the vast majority of quality of life studies have focused on Westerners, this study contributes findings from the unique cultural context of China. Moreover, concentration on this particular period in Chinese history offers insight into the relationship between SWB and rapid socioeconomic and political change.