Abstract: Based on China's general social survey(CGSS)data and macro data at the provincial level,after using econometric model such as Ordered Probit,this paper found that local governments' financial behaviors significantly influence on residents' well-being.Specific performance are:(1)the fiscal transparency, public service satisfaction have a significant role in promoting residents' happiness;(2)fiscal decentralization, people's livelihood class spending significantly promoted the well-being of residents', and their interaction item has a significant effect in inhibiting their promoting effects of happiness;(3)macro tax burden and residents' well-being had a inverted u-shaped relationship Research of this paper provided empirical support to improve residents' well-being through optimizing local governments' financial behaviors.

Key words: fiscal transparency, public service satisfaction, fiscal decentralization, tax burden, subjective well-being