Business / Industries

China's lottery sales rise 15.5% in H1

(Xinhua) Updated: 2014-07-19 14:19

BEIJING - China's welfare lottery sales totaled 98.5 billion yuan ($15.7 billion) during the first half of 2014, up 15.5 percent year on year, authorities announced Friday.

According to the China Welfare Lottery Issuing and Management Center, lottery sales raised more than 28 billion yuan in public welfare funding from January to June, an increase of over 13 percent year on year.

Half of the country's public welfare funds go to China's treasury, while the other half is distributed to local governments across the country. Funds are then allocated to social welfare programs and charities.

A majority of the funds channelled to the treasury will be distributed to the social security fund. The rest will go to fund specific welfare programs, the Ministry of Civil Affairs, and the Central Administration of Sport.

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