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09:02 Jan 13 2011

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Tibet reports fast growth in non-public sector of economy
09:01, January 13, 2011  

Southwest China's Tibet Autonomous Region witnessed a fast expansion in the non-public sector in the past five years as the regional government introduced a raft of measures to encourage development of the sector.

The non-public sector now commands 40.6 percent of Tibet's gross domestic product (GDP) and has become an important constituent of the local economy, said Sonam, a member of the Tibet Autonomous Regional Committee of the Chinese People's Political Consultative Conference and also general manager of the Lhasa Chengguan District Municipal Engineering Co., Ltd..

According to Sonam, non-public economic entities -- household-based businesses and private companies -- had numbered 107,800 in Tibet by the end of 2010, up 9.3 percent from a year earlier and almost double the 64,531 figure of 2005.

The non-public economic entities had amassed 50 billion yuan (about 7.58 billion U.S. dollars) in registered capital by last year, up 15.7 percent year on year and offering jobs to 350,000 people.

Over the past five years, the non-public sector paid 10.66 billion yuan in taxes, accounting for 72.1 percent of the region's tax total, according to Sonam.

Tibet saw double-digit increases in local economy for the past five years, with the annual growth rate averaged at 12.4 percent, said Padma Choling, chairman of Tibet Autonomous Regional Government while delivering a regional government work report to the ongoing annual session of the Tibet Autonomous Regional People's Congress, the local legislature, on Monday.

The plateau region's gross domestic product (GDP) is expected to top 50.6 billion yuan in 2010, which would be double that of 2005, said Padma Choling.

Source: Xinhua

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