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China Banks On Lottery Fever1 September 2000CHINA –Sept. 1, 2000 –As reported by The BBC: "…Promising a weekly jackpot of one million yuan ($120,000) - approximately 150 times the average annual income - the government is hoping the temptation to go out and buy a ticket will be hard for most Chinese to resist. "…Although suspicious of encouraging China's traditional fondness for gambling, the government is desperate for cash to fund care for China's elderly. "…Without a proper state-run pension system provision of care for the elderly is placing a growing strain on China's workforce. "…In rural areas, parents would depend on their children to take care of them. "But with more and more people seeking work in the cities and China's strict one child policy radically altering the country's demographics, care for China's greying population has become a growing problem. "…Until then, they are hoping money from the lottery will go some way to plugging the gap. |