The Lhasa Federation of Industry and Commerce opened its fourth meeting on the morning of June 8.

According to Gongpotai, chairman of the federation, over the past five years, the number of private businesses in Lhasa has risen from 2,439 to 12,717 with a registered capital of 179.987 billion Yuan (26.424 billion US dollars); the number of individually-owned businesses has risen from 36,085 to 50,495 with a registered capital of 4.322 billion Yuan (0.635 billion US dollars),with private businesses and individually-owned ones accounting for 19.7 and 76 percent respectively in the city's various market entities.

By the end of 2016, Lhasa's regional GDP reached 42.2 billion Yuan (6.2 billion US dollars), in which the private economy added value accounts for more than 60 percent, contributing more than 70 percent of the city's economic growth and providing 80 percent of all urban jobs.