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Last updated at: (Beijing Time) Tuesday, November 27, 2001

More Investments to Boost Tibet's Further Development

Tibet will have another upsurge in development as an increasing amount of money pours into the area, which is expected to see as much as 70 billion yuan (US$8.4 billion) over the next five years.


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A New Town Rising in Tibet
Chinese analysts have said that southwest China's Tibet Autonomous Region will have another upsurge in development as an increasing amount of money is poured into the area.

Analysts have based their predictions on a series of central government and local government policies benefiting other parts of China.

70b yuan Investment in Five Years
According to official sources, China's other provinces, autonomous regions and municipalities as well as the central government will spend as much as 70 billion yuan (8.4 billion U.S.dollars) in Tibet over the next five years.

This will help ensure an annual growth rate of over 12 percent in Tibet, analysts say.


Great Changes in Lhasa
More Supporting Policies
Meanwhile, the central government will carry out a number of supporting policies aimed at promoting development in economics, education, science and technology, and infrastructure.

Local experts believe this will exert even greater benefits than direct investment.

The central government will continue to provide financial subsidies as compensating measures against the negative impact of price increases in Tibet due to the implementation of the State's major price adjustment policies.

Commercial banks in the country will provide loans to Tibet with interest rates 2 percent lower than that of the national standard.


Tibetan Farmers and Herdsmen Are Self-sufficient in Grain
Potential for Development
Experts point out that though Tibet now lags behind in resources development, it boasts great potential for both domestic and overseas investors.

Tibet's reserves of solar energy, wind energy and water resources rank as one of the largest in the country. Proven deposits of mineral resources have amounted to over 650 billion yuan (about 78.3 billion U.S. dollars).

Currently, Tibet has six pillar industries, namely tourism, Tibetan medicine, organic products, agricultural product processing and handicrafts, mining and construction materials.



Tibet's March Toward Modernization
Modernization has been an important issue confronting countries and regions worldwide in modern times. Since the invasion of the Western powers in the mid-19th century, it has been the most important task of the people of all ethnic groups in China, the Tibetan people included, to get rid of poverty and backwardness, shake off the lot of being trampled upon, and build up an independent, united, strong, democratic and civilized modern country.

Since the founding of the People's Republic of China in 1949, and especially since the introduction of reform and opening to the outside world, the modernization drive in China has been burgeoning with each passing day, and achieved successes attracting worldwide attention.

China is taking vigorous steps to open even wider and become more prosperous. China's Tibet, with its peaceful liberation in 1951 as the starting point, has carried out regional ethnic autonomy and made a historical leap in its social system following the Democratic Reform in 1959 and the elimination of the feudal serf system.

Through carrying out socialist construction and the reform and opening-up, Tibet has made rapid progress in its modernization drive and got onto the track of development in step with the other parts of the country, revealing a bright future for its development.

Full Text of White Paper on Tibet's March Toward Modernization



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