China's lottery sales surged to their highest level this year in August, reaching 52.96 billion yuan ($7.25 billion), up 53.6 percent from a year earlier, amid public concerns about the country's sluggish economy and bleak job prospects. From January to August this year, the national lottery sales turnover reached 375.7 billion yuan, a jump of 51 percent over the same period last year.

Nationwide lottery sales rose 53.6 percent year on year to 529.6 billion yuan in August, the official Xinhua News Agency reported on Sept. 27, citing data from the Ministry of Finance.

Xinhua pointed out that this growth is mainly due to the increase in major events, instant lottery tickets on the market and other factors.

However, the data show that the trend of surging lottery sales in China has been developing for several months. The total value of lottery tickets sold nationwide from January to August rose 51.6 per cent year on year to Rmb375.76bn.

Reuters reports that the surge in lottery sales in China coincides with weak economic data, especially closely watched youth unemployment figures; China's youth unemployment rate for 16 - to 24-year-olds hit a record 21.3 per cent in June, according to official data.

During this year's graduation season, "No study, no work, only burning incense" became a popular hashtag on Chinese social media. Many videos show young Chinese people crowding temples to make wishes, hoping for work opportunities.

China's National Bureau of Statistics suspended publication of the national youth unemployment rate in August, saying it needed to improve data collection methods. The failure to release the data has led to public criticism, further exposing the labor market warning and the plight of stagnant economic growth.

Comments on Chinese social media suggest that the sharp rise in lottery sales in recent months has been linked to concerns about the economic outlook in the face of a slowing economy and employment difficulties. This is a worrying sign that many people are losing hope for the future and looking to gambling to get out of financial problems.

"It is more likely to win 5 million yuan in the lottery than to earn 5 million yuan from work," Reuters quoted one Weibo post as saying. There is also a popular saying among young people in China: "If I have to choose between buying a car and buying a house, I will choose to buy a lottery. After all, the chance of winning one million is greater than the chance of winning one million."

One big V Weibo account commented: "The weaker the economy, the more popular the lottery. People depend on luck, not on themselves!" Another big V Weibo account also said: "The sales of 375.7 billion yuan in the first eight months of this year, calculated that China's lottery sales in 2023 has exceeded 400 billion yuan, too many poor people waiting to win, eager to get rich overnight, which shows that money in society is not easy to earn."