(TibetanReview.net, Sep21’21) – During the current five-year plan period which began this calendar year, China’s centrally administered state-owned enterprises (SOEs) will invest more than 260 billion yuan (about US$ 40 billion) in Tibet Autonomous Region (TAR), reported the country’s official Xinhua news agency Sep 21.
Most of China’s investments in TAR are strategic and costly; hence the major role for state-owned enterprises. It has enabled the TAR to become one of the fastest growing economies among the provinces or provincial regions of the PRC for decades while still remaining the poorest.
The State Grid Corporation of China invested 52.6 billion yuan in TAR between 2016 and 2020, and is planning to invest 46.6 billion yuan from this year to 2025 and introduce new ultra-high-voltage projects into the region, the report cited the company as saying.
The report cited the State-owned Assets Supervision and Administration Commission as saying that from 2016 to 2020, central SOEs stepped up support for TAR with a total investment of 134.2 billion yuan and 9,900 industrial projects.
The SOEs also plan to provide a combined aid of 2.2 billion yuan to TAR, the report cited a Sep 17 conference on central SOEs supporting TAR’s development as saying. Many companies were stated to have unveiled their investment plans in the region.