There exists a kind of growth imbalance in China s current development process, which is essentially characterized by the imbalance between the nation s wealth and the people s welfare. This paper points out that growth imbalance results mostly from insufficient government social spending on people s welfare. Consequently, the government should shoulder the basic responsibility for the provision of education, health and social security, quicken the transformation of government expenditure structure and increase the share of social spending, in order to improve the people s welfare and achieve the rebalancing of growth. The increase in social spending can also promote the accumulation of human capital, which will help the conversion of economic growth pattern and the realization of sustainable and healthy economic development.