Last updated at: (Beijing Time) Saturday, January 10, 2004
Welfare lottery sales hit new high in 2003
Welfare lottery sales in China exceeded 20 billion yuan (2.4 billion US dollars) in 2003, generating 7 billion yuan (843 million dollars) for the country's public welfare fund.
Welfare lottery sales in China exceeded 20 billion yuan (2.4 billion US dollars) in 2003, generating 7 billion yuan (843 million dollars) for the country's public welfare fund.
In 2003, the sales of welfare lottery increased 3.2 billion (390 million dollars) over the previous year, up 19.05 percent, setting records for the third consecutive year, according to the China Welfare Lottery Distribution Center.
Of the total raised funds, 3.47 billion (418 million dollars) would be used to help the elderly, disabled and poor people, said officials with the center.
Another 3.5 billion (421 million dollars) went to the central treasury, which would be mainly used for needy urban residents or running other welfare projects.
Since its inception in 1987, welfare lotteries in China have collected 32 billion (3.9 billion dollars) for public welfare funds, contributing to 120,000 public welfare projects nationwide.