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Chinese vice premier Hui Liangyu on Friday called for better management and supervision the country's welfare lottery industry.
A ceremony of the 20th anniversary of China's welfare lottery was held in Beijing.
Hui said the welfare lottery industry had made great contributions to the nation's public welfare.
The lottery has raised a total of 242.3 billion yuan over the past two decades, of which 80.9 billion yuan was raised for national public welfare funds, according to the Ministry of Civil Affairs .
The ministry said the fund was mainly used for the development of social welfare facilities, education and health care for orphans, the elderly and the disabled. More than 10 million people have benefited from the funds, according to the ministry.
With the rapid development of the welfare lottery industry, this year the nation's welfare lottery sales are expected to exceed 60 billion yuan, said the ministry.
Civil Affairs Minister Li Xueju said the welfare lottery had become an effective force to promote the country's social welfare and would continue to make a contribution to building a harmonious society.
By the end of 2006, China's social welfare organizations had increased to 40,456 from 31,468 in 1987. More than 1.41 million people have been supported in welfare houses, a six-fold increase compared with 1987.
China launched its first lottery in June 1987. Lottery ticket sales are one of the major sources of funds for building community sports facilities and financing the country's social welfare programs.
China's lottery market has expanded quickly over the last two decades but the China Welfare Lottery Management Center still describes the market penetration of the lottery in China as low.
As in 2006, China's per capita lottery sale account for only 0.66 percent of the per capita net income, equivalent to only one to two percent of the world average.
Source: Xinhua
A ceremony of the 20th anniversary of China's welfare lottery was held in Beijing.
Hui said the welfare lottery industry had made great contributions to the nation's public welfare.
The lottery has raised a total of 242.3 billion yuan over the past two decades, of which 80.9 billion yuan was raised for national public welfare funds, according to the Ministry of Civil Affairs .
The ministry said the fund was mainly used for the development of social welfare facilities, education and health care for orphans, the elderly and the disabled. More than 10 million people have benefited from the funds, according to the ministry.
With the rapid development of the welfare lottery industry, this year the nation's welfare lottery sales are expected to exceed 60 billion yuan, said the ministry.
Civil Affairs Minister Li Xueju said the welfare lottery had become an effective force to promote the country's social welfare and would continue to make a contribution to building a harmonious society.
By the end of 2006, China's social welfare organizations had increased to 40,456 from 31,468 in 1987. More than 1.41 million people have been supported in welfare houses, a six-fold increase compared with 1987.
China launched its first lottery in June 1987. Lottery ticket sales are one of the major sources of funds for building community sports facilities and financing the country's social welfare programs.
China's lottery market has expanded quickly over the last two decades but the China Welfare Lottery Management Center still describes the market penetration of the lottery in China as low.
As in 2006, China's per capita lottery sale account for only 0.66 percent of the per capita net income, equivalent to only one to two percent of the world average.
Source: Xinhua
Banjoo is halted, seem abit lucky, but will not be spare on as it is also consider as speculative, tha same it goes to Lottvis...down only after it speculative run. Market is lossing it steam....just my tot.
I think they have nothing to say, only thing to say is please dun short my counter. The longer they suspend the counter the worth they are because once the market open, all the investor are force to sell their holding.
with the current market like this, even if good news, i don't think it will help much. i believe when it's open for trading, alot of people will be selling... sianz!!
wonder what annoucement they r going to make???
so many days already and they cannot decide what they r going to say?
Lottis slaughtered to feed banjoo...Banjoo will be listed tomorrow..3 day up liao
lottvis has just joined in the fun........ sianzz...
FYI: I m out of Banjoo when price surge to 30ct, then went into another stock and got stuck...(not stuck here, but got stuck in another counter...that my life). What will be, will be..
do you know the ceo resign recently??? why, maybe someting not right.
really worried this boy will be like another lottvision.
why halt for so long ? if got contract, the news should announce in 5 mins.
Contract ratified after MOU signed on 4th July....????Banjoo is definitely a better buy than Lottis and if Lottis can move to 70cts previously..Banjoo may catch up with lottis current price of 37cts as at 7Aug.Banjoo second tranch of share to be issued is at 40cts by then BJ shares will be > 40cts.and its profit of $107mil will be guaranteed over the 5 year period
Which is better in the long term? Lottis or banjoo..lottis supply point of sale equipment to lottery operators only but Banjoo is involved directly in lottery receipts..hopefully investors will realise this difference and Banjoo is half the price of Lottis...time to catch up with Lottis
This pig was spared!
come monday, some cheap roast pork for breakfast and lunch. I hope the pig can be safe on monday.
If bad news really come out ,i dont think this pig will drop to 10c or below.
If it is so,drop below 10c than alot of people will die,i think the 3 director will also be very panic selling.
Pls dont any how spread rumous to pull down the price.The price is already very low now.
friday, saturday no announcement, hope they suspense the counter on monday and make announcement on tuesday. If monday they annnounce bad news, the share price may drop to 10 cents or lower, if good news the counter oso drop slightly. Come monday, if you wanna short, short jade technology and the bank counter.
this rundown company seemed to be closing their shop early this week
Now the nasdaq,dow and S&P is in red. Weak employment job data and downgrade of a bank for sub prime mortage loan. Hope end of the day it will turn positive if not the shortist will be very active this monday. Lucky this counter in on hold today if not the price will surge late afternoon and come monday it will fall. The investor are safe from trading halt.
let hope it's good news ... with the recent setback on the market ... this flying pig is a half-dead pig now
I'm new, can pls enlighten me? halt means tradin stop? but y does it happen? 
Scrapping of lottery MOU? Placement? Rights issue? RTO?