Tibet held an economic work teleconference to strive to meet the national goal of achieving moderate prosperity by 2020 on July 20.

Losang Gyaltsen, chairman of the Tibet Autonomous Region government pointed out that, this year, Tibet has followed closely the strategic goal set out by the central government, and the regional economy has maintained good momentum of leapfrog development. In particular, sustained peace and stability in the region have provided a condition for healthy and rapid economic development.

According to Tibet’s Development and Reform Commission, the “12th Five-Year” plan (2010-2015) is coming to an end this year and the project has entered a crucial phase. Tibet is striving for fixed asset investments of over 130 billion yuan along with 46.6 billion yuan from the central government.

Besides, Tibet will also strengthen ties with central enterprises to speed up the implementation of planned projects in energy, mining and telecommunications.

At the same time, rapid growth in private investment will be achieved by gradually encouraging private investors to participate in the construction and operation of Tibet’s basic public services, municipal public facilities, major infrastructure and the development of key industries.

In line with the “13th Five-Year” Plan (2016-2020), the ultimate goal is to achieve moderate prosperity with the rest of the country by 2020. This will involve major projects, such as research into reserve transportation, energy, water conservation, the people’s livelihood, minerals and ecology.

This, combined with promoting new urbanization and reserve urban construction projects, will require double the state investment of the “12th Five-Year” Plan.

One dollar approximately equals to 6.1 yuan.