As the popularity of lotteries soars in China, a 'shortage phenomenon' is occurring at sales sites. This is due to the influx of demand aiming for a windfall, amid sluggish economic growth recovery caused by factors such as weak consumption and youth unemployment.
On the 23rd, Chinese economic media Zhongxin Jingwei (中新??) reported that scratch lottery tickets are experiencing shortages at sales locations, and the China Welfare Lottery Center is also aware of the situation. Zhongxin Jingwei explained, "The center is urging regional lottery agencies to further optimize the sales mechanism," adding, "However, it will take some time before the problem is alleviated." On local social networking services (SNS), responses such as "It's hard to get lottery tickets" and "I visited several stores, but they all say sold out" are continuing to appear.
A representative from the China Sports Lottery Center told Zhongxin Jingwei, "With the introduction of quantity control measures, instant lottery tickets are experiencing a sold-out situation," and explained, "The specific situation varies by region, so inquiries about the number and types of available lottery tickets should be directed to each regional center."
According to nationwide lottery sales statistics recently released by the Chinese Ministry of Finance, total lottery sales nationwide in March amounted to 55.61 billion yuan (approximately 10.4463 trillion KRW), an increase of 5.89 billion yuan (11.7%) compared to the same period last year. Among them, sales of welfare lottery agencies reached 18.877 billion yuan, up 3.452 billion yuan (22.4%) year-on-year. Sales of sports lottery agencies were 36.724 billion yuan, an increase of 2.358 billion yuan (6.9%) compared to the previous year.
Zhongxin Jingwei explained, "The main reason for the increase in lottery sales is the expansion of the instant lottery buyer base and the steady increase in sales outlets."
On a cumulative basis (January to March), total nationwide lottery sales amounted to 149.466 billion yuan, an increase of 24.642 billion yuan (19.7%) compared to the same period last year. Welfare and sports lottery sales increased to 51.199 billion yuan and 98.267 billion yuan, respectively, with growth rates of 28.7% and 15.6%. During the same period, by type, the sales proportions of lotto digital lottery, guessing lottery, instant lottery, and Kino lottery were 28.7%, 38.8%, 26.1%, and 6.4%, respectively.
Meanwhile, according to the National Bureau of Statistics of China, the youth unemployment rate in April was recorded at 14.7%. Although this is somewhat improved compared to the previous month (March), it remains at a high level. The unemployment rate for youths aged 16 to 24, excluding students, was 14.7% in April, while the rates for those aged 25 to 29 and 30 to 59 were 7.1% and 4.0%, respectively.
Earlier, Ding Xuexiang, a member of the Standing Committee of the Political Bureau of the Communist Party of China and Vice Premier of the State Council, presided over a meeting attended by central ministries, major local governments, and universities, instructing that all possible measures be taken to ensure overall stability in the youth employment market. In response, the Ministry of Education of China is conducting campaigns such as job fairs that help match universities and companies, and support programs for job seekers.
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