The primary objective of this study was to investigate how the changing value systems of modern Chinese consumers affect their consumption behaviors and life satisfaction through the mediating variables of consumption values. The results of the multivariate data analysis show that three out of four types of consumer values (i.e., functional, emotional, and social) were positively related to foreign brand purchasing. Among all accepted relationships, the one between collectivism and functional value was the highest, whereas the collectivism and epistemic value relationship was the lowest. Individualism and collectivism were both found to be positively related to foreign brand purchasing and life satisfaction. Compared to collectivists, individualists were less satisfied with their current lives, but they held a more favorable attitude toward foreign brands. © 2009 Wiley Periodicals, Inc.