Tibet Reports Strong Economic Growth in First Quarter

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Last updated at: (Beijing Time) Friday, May 09, 2003

Tibet Reports Strong Economic Growth in First Quarter

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Southwest China's Tibet Autonomous Region posted a double-digit economic growth rate in the first quarter of the year, led by development of the service sector, brisk consumption and strong export growth.

According to statistics, the region's gross domestic product (GDP) jumped 10.4 percent year on year to 3.42 billion yuan (412 million US dollars) from January to March.

Widely known as the "roof of the world" and one of the major battlefields in China's massive "Go West" campaign, Tibet played host to 107,900 tourists in the three-month period, up 17.3 percent. Tourism revenues reached 87.3 million yuan (10.9 million dollars).

The catering industry earned the region 309.9 million yuan (38.7 million dollars), up 9.5 percent.

As a result, the combined output value of the service industry stood at 2.53 billion yuan (316.3 million dollars), representing a jump of 12.3 percent.

Consumption, a key engine for economic growth, was spurred by an increase in the disposable income of residents in urban areas, which was up 51.1 percent in the 1997-2002 period.

In Lhasa, the regional capital, people did not hesitate to spend on clothes, entertainment, cultural activities, education, transport and telecommunications, with such per capita expenditures reaching 2,300 yuan (287.5 dollars) from January to March.

Another striking point was the region's exports, which soared 78.2 percent to 21.44 million US dollars in the three months. Imports also increased 88.4 percent.

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