Business / Markets

Tibet's listed stocks exceed region's GDP in value

(Xinhua) Updated: 2016-02-02 08:18

The capital market of the Tibet autonomous region is prospering, with a market value far exceeding the region's gross domestic product.

Tibet's 12 listed companies reported a total market value of 140.76 billion yuan ($21.4 billion) at the end of 2015, about 1.37 times as much as its GDP for that year, the regional securities regulator said on Sunday.

The region has 11 companies listed on the Shanghai Stock Exchange and one listed on the Hong Kong bourse. The companies cover diverse sectors including food, beverages, tourism, medicine, and mining.

In March last year, the China Securities Regulatory Commission vowed to help Tibet's businesses expand through a multi-layer equity market with continued prior handling of initial public offerings.

It promised to help Tibet's businesses issue corporate bonds on the Shanghai and Shenzhen stock exchanges, and through the new national stock transfer system for smaller firms.

The commission also encouraged private funds to invest in Tibet, especially in farming and husbandry, as well as Tibetan medicine and handicrafts.

About 33 Tibetan businesses are planning to go public.

The first stock market listing of a Tibetan company took place in 1995.

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