According to the government work report of the Tibet Autonomous Region, in 2019, the total GDP of the region exceeded 160 billion yuan (about 23 billion US dollars), which is a 9 percent growth year-on-year.

On January 7, the Third Session of the 11th People’s Congress of the Tibet Autonomous Region opened in Lhasa.

The Third Session of the 11th People’s Congress of the Tibet Autonomous Region was opened in Lhasa on January 7, 2020. Che Zala, chairman of the Tibet Autonomous Region government, delivered a government work report.

“Industrial development constantly strengthens,” Che Zala said. He said that in 2019, the total output of Tibet’s agricultural and livestock product processing industries was 4.89 billion yuan (about 712 million US dollars), a 16 percent year-on-year increase. The output value of the cultural industry is expected to be 5.3 billion yuan (about 771 million US dollars), an increase of 15 percent.

In the same year, Tibet’s financial industry added value reached 12.26 billion yuan (about 1.78 billion US dollars) and two listed companies has been added. Tibet is expected to reduce taxes and fees by 4.71 billion yuan (about 685 million US dollars) throughout the year and attract 36 billion yuan (about 5.24 billion US dollars) in investment.

The report shows that in 2019, about 400,000 farmers and herdsmen in Tibet involved in the tourism industry. The number of employees in secondary and tertiary industries exceeded 1.25 million.