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Last updated at: (Beijing Time) Friday, December 19, 2003

Tibet sees booming foreign trade

The Tibet Autonomous Region, southwest China, registered a foreign trade turnover totaling 140 million US dollars in the first 11 months this year, up 18.77 percent over the corresponding period of last year.


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The Tibet Autonomous Region, southwest China, registered a foreign trade turnover totaling 140 million US dollars in the first 11 months this year, up 18.77 percent over the corresponding period of last year.

The total foreign trade turnover included 107 million US dollars in exports, a year-on-year increase of 48.55 percent. The region reported a trade surplus of 75.6 million US dollars in the 11-month period, 2.7 times the figure for the corresponding periodof last year, according to statistics from the regional foreign trade and economic cooperation bureau.

Major export commodities included rape seed, wool, cashmere products, carpets, garlic, Chinese caterpillar fungus and other native products.

Tibet exported 2,684 tons of rape seed in the first 11 months, earning a record 910,000 US dollars in foreign exchange. The region exported 2,428 tons of wool in the 11-month period, earning3.22 million US dollars.

With unique geographical location and rich natural resources, Tibet has caught the attention of foreign investors.

The region approved 11 foreign-financed enterprises in the first 11 months and contractual foreign investment reached 8.68 million US dollars, a year-on-year rise of 89 percent.

Tibet used 4.67 million US dollars of foreign investment in thesame period, up 59 percent over the same period of last year. Foreign investment has expanded to the fields of food processing, tourism-related services, catering and recreational industries, textile and transportation sectors.


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