BEIJING - A research institute on the lottery development was founded in Beijing on Saturday, first such institute in China.
The Lottery Research Institute of Beijing Normal University is aimed to promote the healthy development of China's booming lottery industry by conducting lottery development research, nurturing lottery management experts and guiding the industry's development.
It will also make efforts to promulgate the philosophy of public benefits contained in lottery industry as well as provide public services.
In 2011, lottery sales in China hit 221.5 billion yuan (about $34.8 billion) and 63.4 billion yuan was received as public welfare funds, official statistics shows.
Lottery sales in the first four months this year amounted to 83.8 billion yuan, a 29 percent year-on-year increase, according to the Ministry of Finance.
