The relationships between perceived economic stress (current economic hardship and future economic worry) and emotional quality of life (existential well-being, life satisfaction, self-esteem, sense of mastery, psychological morbidity) as well as problem behavior (substance abuse and delinquency) were examined in 1519 Chinese adolescents with and without economic disadvantage. Results showed that perceived economic stress was related to emotional quality of life as well as problem behavior in adolescents and the relationships were generally stronger in adolescents with economic disadvantage than in adolescents without economic disadvantage. Adolescents with higher levels of emotional quality of life displayed lower levels of adolescent problem behavior. Finally, adolescents with economic disadvantage displayed higher levels of current economic hardship and future economic worry than did adolescents without economic disadvantage.