Xizang’s GDP grows by 6.3% in 2024, targeting 7-8% expansion in 2025

The GDP of Southwest China's Xizang Autonomous Region expanded by 6.3 percent in 2024, continuing its positive trajectory of stable development, according to the region's government work report released on Sunday.

The growth rate of Xizang's key economic indicators in the past year ranked among the top in China, Gama Cedain, acting chairman of the regional government, said in a report delivered to the annual session of the regional people's congress on Sunday.

The region has set ambitious economic and social development goals for 2025, with a GDP growth target of between 7 to 8 percent, Gama said.

Infrastructure construction, eco-environmental conservation, and reconstruction in the earthquake-affected areas have been identified as key priorities in the government work report.

In 2024, per capita disposable income for urban residents in Xizang grew by 6.8 percent, while rural residents saw an increase of 8.3 percent, according to official data.

The region's total fixed asset investment grew by 19.6 percent, retail sales of consumer goods increased by 7.2 percent year-on-year, with the added value of large-scale industrial enterprises increasing by 18.3 percent and the total import-export trade volume growing by 15.4 percent.

Xizang made notable progress in infrastructure, investing over 170 billion yuan ($23.2 billion) across 21 major projects. Among the projects was the Lhasa-Xigaze Highway, which began operating in 2024.

In the year of 2025, the region plans to increase investment to over 200 billion yuan in the construction of major projects, including the Sichuan-Xizang Railway, according to the report.

In the past year, the cultural sector saw a 22 percent year-on-year increase in output value, receiving 16 percent more visitors, and total tourism spending increased by 15 percent, according to the regional government.

In terms of new energy development, Xizang set up a dedicated fund for the clean energy industry, initially allocating 5 billion yuan in 2024, with installed power capacity reaching 27.05 million kilowatts.

Xizang's foreign trade remained dynamic in 2024. From January to November, its total import-export trade reached 11.22 billion yuan, up by 9.4 percent year-on-year.

Thanks to government policy support, in the first 11 months of 2024, Xizang reopened all 14 traditional border trade points with Nepal, enabling transactions totaling 57.45 million yuan, per the report.

This year will commemorate the 60th anniversary of the founding of Xizang Autonomous Region.