Tibet will further develop its capital market as an important sector of its economy, according to Pema Tsewang, vice chairman of the Tibet Autonomous Regional Government.

Pema Tsewang made the remark at a regional work conference on the capital market on Thursday, Tibet Daily said.

Participants in the conference summed up the general development and reform of the region's capital market in response to the requirements of the Fifth Central Conference on Work in Tibet.

He said that the securities industry in Tibet has made great progress, with the region's listed companies improving their performance gradually. So far, the industry has been growing in a stable and sound way with its scale expanding step by step.

"We will boost the capital market as a vital sector in the region's economic development," He emphasized.

Tibet will take further measures to foster its equity market as a tool for stabilizing the market, he added.