Maintaining economic growth in Tibet
GDP growth has slowed in the Tibet Autonomous Region, dropping by 6.6 percent in the first quarter. Analysts say the slowdown was caused by the March riots in Lhasa. The local government has promised to stimulate growth and maintain economic development.
When Yishion clothing store in Lhasa reopened on Friday after repairs, the shop attracted many customers. The store was completely destroyed during the unrest in March and five of its salesgirls were burnt to death.
Tang Qingyan, Yishion Clothing Store, owner, said, "Thanks to the government’s help, we’ve been able to restart our business very quickly. We’re confident that we can do better in the future and repay the government’s loan as soon as possible."
The local government provided the store with a low-interest loan of 1 million yuan for rebuilding costs. Other shops affected by the unrest also got similar help. But the negative impacts went beyond just these shops and extended to the whole regional economy. The latest figures show that the gross economic growth, total consumption and fiscal revenues all declined in the first quarter. The government has promised to do more to revitalize the economy and local officials say measures will be taken to encourage investment, expand consumption and rebuild market confidence. But revitalizing the tourism industry remains a major task.
Lhasa reopened to domestic tourists this month and will open for foreign tourists soon.