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People's Daily Online>>China Business

Central SOEs to invest 80b in Tibet

(Xinhua)

14:40, March 04, 2012

A worker inspects a converter station at Qaidam, Qinghai province, March 1, 2012. The station is part of an ambitious project to connect Tibet grid to the national grid. (Photo/Xinhua)

BEIJING, March 3 -- China's centrally administered state-owned enterprises plan to invest over 80 billion yuan (12.7 billion U.S. dollars) in Tibet Autonomous Region during the 2011-2015 period, according to the State-owned Assets Supervision and Administration Commission (SASAC).

As of the end of last year, central SOEs had invested 40 billion yuan in Tibet projects relating to electricity, water conservation, telecommunication, energy, mining and tourism, with project contracts in the region valued at more than 24 billion yuan.

SASAC has urged these enterprises to step up support for the region and play a bigger role in facilitating its development, as well as work to preserve the region's environment in the process.

China's centrally administered SOEs reported net profits of 917.33 billion yuan in 2011, up 6.4 percent year-on-year, according to official data.

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