Statistics for the recent six years show that the region's annual gross domestic product (GDP) has increased by an average rate of 12.9 percent, higher than that of the national average. Tibet's revenue has increased 2.2 times on a year-on-year basis.

Local government sources say that Tibet can now produce enough grain for local residents, and at present, 80 percent of the region's poverty-stricken population is well-fed.

In the past six years, Tibet's fixed assets investment was 22 billion yuan and the figure for last year stood at 5.66 billion yuan. The completion of an airport, highway, power station and telecommunications projects have greatly improved the local investment environment and promoted local economic development.

Tibet now has six listed companies, and three more are expected to go on the stock market soon, sources said.

The number of projects funded by foreign investors, aided by international organizations or loaned by foreign governments is 178, with US$240 million of foreign investment already used.

In the first seven months of this year, more than 50,000 overseas tourists visited Tibet, more than two times that of the same period last year.

At the same time, other provinces, autonomous regions and municipalities of China have all supported Tibet's development by providing funds, materials, talent and technology. With their assistance, 2,042 projects have been completed in Tibet in the past five years.

(People's Daily 09/29/2000)