Must I have a return ticket BEFORE my visa is granted?

Thank you for your answer to my first question which was very helpful. Reading the instructions on how to apply for a visa to China I understand (perhaps incorrectly) that I need to show a return ticket in order to get my visa. If this is the case and, if by some unexpected reason my visa is rejected, I have lost the money that I have spent on the ticket. I would appreciate your advise.

Thank you in advance.

Erik.