Central bank gives helping hand to Tibet

China's central bank is seeking new methods to strengthen financial support in the Tibet autonomous region, aiming to accelerate regional economic development and lift local residents out of poverty in the next five years.

New financial measures, including more aggressive bank lending with relatively low interest rates in Tibet than other regions, are under discussion, according to officials and financial industry executives.

The People's Bank of China, the country's central bank, will encourage commercial banks to issue more loans to enterprises in Tibet, based on lower financial costs and required reserve ratio, according to Pan Gongsheng, deputy governor of the bank.