China seems to be taking the idea seriously, too, as well as indices measuring resource consumption:

Along with the people's happiness the country is also developing indices that measure other intangibles such as energy efficiency, advances in science and technology and social development.

China's Eleventh Five-Year (2006-2010) Development Program, which will guide the country's economic and social development calls for cutting its energy consumption by 20 percent by the end of the decade from the 2005 level.

Along with energy savings many regional development plans are looking seriously at conserving water resources. Beijing hopes to cut its water consumption by 20 percent over the next five years and hopes to cut it by five percent this year.

People's Daily Online: China introduces "happiness index" into regional development evaluation system