This study examines the individual and workplace factors related to depression and stress in a large privately owned enterprise in China. The cross-sectional study design involved 13 privately owned retail enterprises in China. A self-report survey was administered to 4,847 employees aged 18–54 recruited through the management boards of the 13 enterprises. A chi-square test was used to compare differences between the depressed and non-depressed groups on a number of demographic variables and chronic diseases. Logistic regression analysis was performed to assess depression in relation to individual factors (work ability and resilience) and organisational environmental factors (workplace ethos and culture, psychosocial environment and health promotion policies and activities). Significant relationships were found between employee depression all personal factors, and one organisational environmental factor. Personal factors include poor work ability and low resilience, while workplace factors include workplace ethos and culture. The primary organisational environmental factor was a low level of enterprise ethos and culture.