Figures released by the Chinese Ministry of Finance show that the country experienced a 2.5 percent year-on-year decrease in lottery ticket sales, amounting to RMB 50.54 billion ($7.1 billion) for November.
While sales of lottery tickets to support the country’s welfare system were up 29.5 percent to RMB 16.94 billion ($2.38 billion), sales to support the sports industry decreased 13.3 percent year-on-year to RMB 33.6 billion ($4.72 billion), the ministry said.
The ministry attributed the November drop in lottery ticket sales to the high base of comparison set in the previous year. For the cumulative period of the first 11 months in 2023, China’s lottery ticket sales tallied up to RMB 526.41 billion ($74.01 billion), marking a significant 45.1 percent increase year-on-year.
It’s worth noting that, in accordance with China’s lottery management rules, funds generated from ticket sales are allocated for administrative expenses, public welfare projects, and prize funding.
