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Saturday, 7 March 2009
Sports bosses argue legalised gambling would boost economy
Liberalising gambling laws could help the mainland survive the global economic downturn, sports officials said at the annual meeting of parliament this week.
Sports bosses argue legalised gambling would boost economy
Reuters in Beijing 7 March 2009
Liberalising gambling laws could help the mainland survive the global economic downturn, sports officials said at the annual meeting of parliament this week.
Gambling was banned after the communist takeover in 1949, the exceptions being two state lotteries - one of them run by the sports ministry to fund the building of facilities.
It thrives, however, on the race courses of Hong Kong and in the casinos of Macau, though the frequent raids on underground syndicates indicate a flourishing illegal sector.
“I suggest we deregulate the lottery,” Hebei delegate Yang Jingzhi told the sports circle at the Chinese People’s Political Consultative Conference.
“Our present lottery games are monotonous. We should fully introduce the international practices, such as betting on horses, ‘Mark Six’ and various others. There are lots of types of lottery in Britain and the US ... As long as it is well legislated, there is not much harm.”
Flush with pride at Premier Wen Jiabao’s mention of the success of the Beijing Olympics, the delegates discussed ways sport could help surmount the economic challenges the mainland faces.
“The sports industry in the short term can help maintain stable economic growth and employment,” deputy sports minister Wang Jun said. “There are some 300,000 lottery ticket sellers in the country. We are facing a problem that underground casinos and overseas gambling have dangerously broken in, taking an estimated 10 times as much as our official lottery.
“In Hong Kong, where the legal lottery is well developed, the official business is 10 times as big as the private ones.”
In November, Wuhan hosted the first commercial horse race on the mainland since 1949. Gambling was strictly limited with prizes, not cash, for winning bets.
Three representatives of the sports manufacturing industry were invited into the sports circle for the first time this year.
“About 60 to 65 per cent of the world’s sports products are made in China, but we earn little profit as we don’t have many influential brands,” Mr. Wang added.
Brands such as Nike and Adidas dominate the market, although the company founded by former Olympic gymnastics champion Li Ning is fighting back and making a name for itself abroad.
Last week, Li Ning confirmed the company had added Olympic champion Russian pole vaulter Yelena Isinbayeva to its stable of sponsored athletes, which includes NBA All-Star Shaquille O’Neal.
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Sports bosses argue legalised gambling would boost economy
Reuters in Beijing
7 March 2009
Liberalising gambling laws could help the mainland survive the global economic downturn, sports officials said at the annual meeting of parliament this week.
Gambling was banned after the communist takeover in 1949, the exceptions being two state lotteries - one of them run by the sports ministry to fund the building of facilities.
It thrives, however, on the race courses of Hong Kong and in the casinos of Macau, though the frequent raids on underground syndicates indicate a flourishing illegal sector.
“I suggest we deregulate the lottery,” Hebei delegate Yang Jingzhi told the sports circle at the Chinese People’s Political Consultative Conference.
“Our present lottery games are monotonous. We should fully introduce the international practices, such as betting on horses, ‘Mark Six’ and various others. There are lots of types of lottery in Britain and the US ... As long as it is well legislated, there is not much harm.”
Flush with pride at Premier Wen Jiabao’s mention of the success of the Beijing Olympics, the delegates discussed ways sport could help surmount the economic challenges the mainland faces.
“The sports industry in the short term can help maintain stable economic growth and employment,” deputy sports minister Wang Jun said. “There are some 300,000 lottery ticket sellers in the country. We are facing a problem that underground casinos and overseas gambling have dangerously broken in, taking an estimated 10 times as much as our official lottery.
“In Hong Kong, where the legal lottery is well developed, the official business is 10 times as big as the private ones.”
In November, Wuhan hosted the first commercial horse race on the mainland since 1949. Gambling was strictly limited with prizes, not cash, for winning bets.
Three representatives of the sports manufacturing industry were invited into the sports circle for the first time this year.
“About 60 to 65 per cent of the world’s sports products are made in China, but we earn little profit as we don’t have many influential brands,” Mr. Wang added.
Brands such as Nike and Adidas dominate the market, although the company founded by former Olympic gymnastics champion Li Ning is fighting back and making a name for itself abroad.
Last week, Li Ning confirmed the company had added Olympic champion Russian pole vaulter Yelena Isinbayeva to its stable of sponsored athletes, which includes NBA All-Star Shaquille O’Neal.
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