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China to invest US$773.49m in Tibet in 2005
Updated: 2005-01-16 17:11

The central government will invest 6.42 billion yuan (773.49 million US dollars) this year in 24 key projects in southwest China's Tibet Autonomous Region, according to the local government.

The figure is six times that of Tibet's annual fiscal budget and about one-third of its annual gross domestic product (GDP) volume.

These key projects are meant to improve the living and working conditions of local people. About 5.28 billion yuan will be spent on pasture construction, clean water projects for rural residents, rural medical services, education and traffic construction.

In history, the central government and provincial governments helped Tibet handle 25 projects in 1965 when Tibet Autonomous Region was set up. The central government invested 500 million yuan in 43 projects in the 20th anniversary of the region's founding and 4.6 billion yuan in 62 projects in the 30th anniversary, a local government official said.

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