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Tibet Reports Robust Growth

Tibet Reports Robust GrowthTibet Reports Robust Growth

Tibet reported 11.5% gross domestic product growth this year, realizing the 24th straight year of double-digit growth, Xinhua reported. The plateau region’s GDP reached 114.8 billion yuan ($16.5 billion) in 2016, while the growth target for the next year is exceeding 11%, according to statistics announced at an annual regional economic work conference on Saturday. The figures are impressive given that the country as a whole has slowed significantly from years of breakneck growth rates and transitions to what is known as the economic “new normal”. This year, Tibet achieved a 20% increase in its fixed asset investments, which amounted to 161 billion yuan, and raised the incomes of its urban and rural residents by 10% and 13%, which reached 27,875 yuan and 9,316 yuan respectively. In addition, the region saw 130,000 people out of poverty and 77,000 people relocated from their inhospitable hometown. In 2017, Tibet aims to achieve the same goals: 20% increase in fixed asset investments as well as 10% and 13% increases in incomes of urban and rural residents.

 

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