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Sub-anchor: Tibet economy in H1 2016


08-16-2016 16:50 BJT

The Tibet Autonomous Regions has been developing steadily in recent years. Official data shows that in the first half of 2016, Tibet's GDP increased 10.6 percent from the same period last year. The industrial sector maintained rapid growth, and the added value of industries above a designated size increased 12 percent year on year.

In the financial sector, Tibet's deposit volume increased at the 3rd fastest pace across the country. That was while growth of loans topped all the provinces and regions in the country. By the end of June, Tibet's deposits had reached 403.3 billion yuan, up 21 percent from the same period last year. At the same time, loans stood at 250.6 billion yuan, up 31 percent year on year.

As a major industry in Tibet, agriculture plays a key role in local economic development. Tibet has been making a big effort to support the agricultural sector. In the first half of this year, loans to the agricultural sector increased 47.8 percent to 61 billion yuan.

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