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Home >> Business
UPDATED: 15:43, January 13, 2006
Tibet posts double-digit economic growth for fifth straight year
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Tibet Autonomous Region, in southwest China, registered a GDP growth rate of over 12 percent for the fifth straight year in 2005, said Qiangba Puncog, chairman of the regional government, on Thursday.

The growth rate is much higher than the national economic growth rate of 9.8 percent for the last year, Qiangba said.

The regional GDP grew to 25.04 billion yuan (about 3 billion U.S. dollars) last year from the 11.78 billion yuan in 2000.

With the support of other Chinese provinces and municipalities, Tibet's economy has been in a period of fast growth in the past five years, Qiangba said.

Fixed assets investment totaled 68.9 billion yuan last year, of which 50.8 billion yuan were provided by the central government, Qiangba said.

A number of railway, hydraulic power station and airport projects have been completed or are under construction. Currently, Tibet has more than 40,000 kilometers of highway that have opened to traffic and the region's total installed generating capacity reached 500,000 kilowatts last year.

The per capita income of local farmers and herdsmen topped 2,000 yuan (about 250 U.S. dollars) last year, posing a double-digit growth for the third straight year.

Source: Xinhua

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