Economy

Investment in Tibet to hit 26b yuan by 2011

(Peopledaily.com.cn)
Updated: 2011-05-13 15:50

China's investments in Tibet will reach 26 billion yuan ($4 billion) by 2011 along with the construction of a large number of major engineering projects, such as the Lhasa-Shigatse railway, an extension line of the Qinghai-Tibet railway.

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The huge investment support will promote the sound and rapid development of Tibet's economy and society.

Tibet completed a total of 163.3 billion yuan of fixed-asset investments during the 11th Five-Year Plan period. This figure has exceeded the total fixed-asset investments in Tibet for the 55 years since its peaceful liberation.

In addition, the average annual growth of the total fixed-asset investments in Tibet stood at nearly 18 percent over the past five years.

In 2010, Tibet implemented a total of 25.3 billion yuan of government investments, an increase of nearly 21 percent compared with 2009, setting another record high, and also completed a total of 44 billion yuan of fixed-asset investments, an increase of 16 percent compared with 2009.