Report finds only 40% of RMB104bn in lottery money accounted for

The Chinese Academy of Social Sciences was only able find evidence showing RMB40 billion of the RMB104 billion raised by China’s state-run lotteries was actually spent on social welfare projects per the institution’s mandate, The Financial Times reported, citing an annual report on charitable donations from the academy. The new section of the report on state lotteries said that while some of the cash raised had been spent on social welfare projects like exercise equipment in public parks, it was unclear where the remaining RMB64 billion had gone.