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Tibet sets up investment company for development

(Xinhua)
Updated: 2008-10-01 21:43

LHASA  -- Southwest China's Tibet Autonomous Region established its first investment company on Wednesday to promote economic development.

Tibet Autonomous Region Investment Co., Ltd. was funded by the regional finance department with a registered capital of 600 million yuan (87.6 million US dollars).

The company will be a platform for capital financing, attraction of expertise and industry investment, said board chairman Wang Yunjin. Its business includes securities, funds, banking, real estate, transport, tourism and the high-tech sector.

Investment has played a key role in driving the growth of the region, which is still underdeveloped compared with the central and eastern coastal region.