Jan 07, 2016 Newsdesk Industry Talk, Latest News, Rest of Asia
Mainland China’s total November sales of official lottery products decreased by 10.2 percent in year-on-year terms, according to data from the country’s Ministry of Finance, published on Tuesday.
Monthly sales for the official lotteries in mainland China have now declined for six consecutive months as measured in year-on-year terms.
Total sales in November were RMB30.63 billion (US$4.64 billion), the Ministry of Finance announced.
Welfare lottery sales decreased by 6.6 percent year-on-year, to RMB17.0 billion, while sports lottery sales declined 14.4 percent to RMB13.6 billion.
Combined lottery sales in the first 11 months of last year amounted to RMB333.8 billion, a year-on-year decrease of 3.6 percent.
Welfare lottery sales between January and November went down by 2.2 percent year-on-year to RMB182.3 billion, while sports lottery sales were RMB151.5 billion, down 5.2 percent.
The country’s State Council confirmed in October its commitment to reducing the time required for the approval and administration of lottery sales and payouts, cancelling 62 central authorisation requirements and devolving responsibility to provincial finance departments.
However, online sales of mainland China lottery products are still currently suspended, a move described by the authorities as temporary but which has hit several companies operating in the sector.
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