Gambling and stock investment the former seems to be a safer bet for the Chinese government to boost its pension coffers than investing.
From 6 October, once a week for 15 weeks, mainlanders will be able to buy the hope of winning Rmb1 million $120,000 in prize money from banks and shops selling lottery tickets, a capital idea whipped up by the government to help pay the 600,000 pensioners and 700,000 unemployed who last year officially did not receive benefits because of the lack of funds.
The Rmb7 billion pension deficit, a figure released by the State Council's Development Research Centre this year, is the result of default payments, fund-siphoning as well...
