With a better economy, citizens have greater purchasing power, and with more choices, happiness can be found. In this regard, economic growth is supposed to bring greater happiness.
However, a recent survey of families in 30 capital cities revealed that, except for citizens in Lhasa, Tibet, no families were satisfied with their quality of life.
The subjective quality of life index of the 30 capital cities averages about 49.71, with Haikou, Hainan Province ranking the highest at 55.08. The minimum level for people to subjectively feel satisfied is 75.
"The economy has seen rapid growth during the past three decades, but people are still barely satisfied with their quality of life," said Zhang Liancheng, dean of the School of Economics at Capital University of Economics and Business, who was shocked by the results.
The survey indicates that though on average the GDP per capita has been increasing by 9.2% annually since 1978, it does not necessarily bring happiness for residents.
The top 10 cities according to the subjective quality of life index are Haikou in Hainan Province, Lanzhou in Gansu Province, Hangzhou in Zhejiang Province, Jinan in Shandong Province, Yinchuan in Ningxia Hui Autonomous Region, Hefei in Anhui Province, Chengdu in Sichuan Province, Chongqing Municipality, Xining in Qinghai Province, and Changchun in Jilin Province.
Wuhan in Hubei Province is at the bottom, with Hohhot in the Inner Mongolian Autonomous Region, Nanchang in Jiangxi Province, Taiyuan in Shanxi Province, and Kunming in Yunnan Province ahead of it.
Beijing, Shanghai, and Guangzhou where the GDP per capita is over $10,000, rank the 20th, 23rd, and 25th respectively with an index lower than 50.
"Beijing ranks low probably because life there is fast paced and the living expenses are quite high," said Zhang, adding that Yinchuan is a small city where "people can travel around by bike within 10 minutes, and citizens are enjoying living a slow life."
"Besides that, high inflation, soaring housing prices, and low social insurance," noted Zhang, "are also related factors that caused low satisfaction." The current quality of life does not meet people's expectations.
To cope with this problem, experts suggested that during the Twelfth Five-Year Plan Period the government accelerate transformation of the economic growth mode while maintaining steady and rapid economic growth. This should include transforming the economic growth mode and income distribution mode, improving the social insurance system, and improving the quality and efficiency of the economic growth.
"To raise people's welfare standards instead of having a high economic growth rate is the ultimate goal. Only by achieving this can we realize sustainable development in the economy," explained Zhang.
In the first quarter of this year, state-owned enterprises increased their net profits by 22.4% since the previous year. The fiscal revenue grew by 33.1%, far beyond the income growth rates of urban and rural residents at 7.1% and 14.3%, respectively.
Thus, measures should be taken to restrict the over-rapid revenue growth of governments and companies and raise residents' incomes. Otherwise, the Twelfth Five-Year Plan goal may never be reached.
