Lhasa Shoton Festival investment promotion& projects contracts signing ceremony was held on September 2nd, People's Daily reported.

Fifty project contract agreements were reached in the investment promotion, with total value of more than 30 billion yuan; 37 official contract projects were signed with investments totaling to 21.8 billion yuan; and 13 intention agreement projects were signed with total values of 8.8 billion yuan.

The activity is an important measure of Lhasa's "inviting in" strategy for driving economic development. The activity was hosted by Lhasa Municipal People's Government, and organized by Lhasa commercial affairs bureau.

Over 360 people from social organizations, representative groups, well-known delegates from business conglomerates, provincial and municipal entrepreneurs, and well-known local entrepreneurs attended the activity.

In recent years, especially during the "12th Five-Year Plan" period(2011-2015), year-on-year double digit growth was achieved in six key indicators of economy such as the GDP of Lhasa, total investment in fixed assets, public finance budget revenue, etc