Past research on subjective well-being (SWB) in Western society and China has revealed various contributing factors. This study conducted a series of interviews with Chinese urban residents to systematically analyze those factors based on Bronfenbrenner’s Ecological System Theory. The results revealed that 5 layers, 23 factors, and 55 elements, many of which had distinct Chinese characteristics, contributed to Chinese urban residents’ SWB. The Top Model of SWB, visualized as a spinning top or gyroscope, showcased the interdependent layers of factors impacting Chinese urban residents’ SWB. At its vertical axis is a time dimension as residents often reflect on factors by comparing their present situation with the past and the future. Discussion regarding each layer, the primary factors that comprise each layer, links between the layers, and the impact of a time dimension was included to substantiate the proposed model. The discussions focus on the study’s contribution to SWB literature, public policy-making, and future research on urban Chinese residents’ SWB.