Tibet's economy registers 12 per cent GDP growth in 2014

Tibet's economy grew at 12 per cent this year continuing its trend of posting double digit growth rates in the last two decades on the back of massive investments by China in infrastructure projects.
The economy of Tibet Autonomous Region, in southwest China, grew by 12 per cent in 2014, state-run Xinhua news agency reported today.
Tibet's GDP is expected to hit 92.5 billion yuan (USD 15.11 billion) this year, maintaining its double-digit growth since 1994 even though China's overall GDP declined to about 7.8 per cent last year.
China for the first time in recent years was expected to miss the official target growth of 7.5 per cent.

"Tibet's sustained, rapid and sound development continued in 2014," Communist Party of China's Tibet Autonomous Region secretary, Chen Quanguo said.
The per capita net income of farmers and herdsmen in the region hit 7,471 yuan (USD 1245) this year, up by 14 per cent year on year.

The per capita disposable income of urban residents also increased by 8 per cent year on year to reach 22,026 yuan (USD 3670).
Tibet's economic growth was boosted by massive investments in infrastructure projects as China has been pouring billions of dollars to develop the region.
The remote Himalayan region boasts of five airports, railway and road networks connecting Chinese mainland besides wide network of dams on the rivers.

Tibet's trade is also boosted by enhanced trade relations with bordering Nepal.