Shigatse Mount Qomolangma Investment Co., Ltd. was inaugurated on July 1 as the first investment company invested by Shigatse government, Tibet Daily reported.

Shigatse Mount Qomolangma Investment Co., Ltd. [Photo/ Tibet Daily]

It is a state-owned enterprise approved by Shigatse Committee of CPC and Shigatse Civil Administration with a registered capital of 150 million yuan (24.2 million US dollars).

It is mainly in charge of carrying out national financing and investment policy, facilitating investment and financing channels, and assisting in governmental macro-control and market regulation.

Specifically, it marketizes the management of state-owned land and resources while offering financing service to urban public facilities construction and non-profit projects.

Also it invests in or provides capital help to Tibet’s superior industries, for instance, mining industry, tourism, eco-agriculture, Tibetan medical service and pharmaceutical producing. Its financing aid also goes to SMEs of special significance in social economy to alleviate their capital restraints.

Entrusted by local civil administration, it is responsible for taking over and properly managing operating assets owned by local state-run institutions, and meanwhile administrating housing lease, property management, vehicle testing and repairing business in these institutions.

1yuan=0.1631 US dollar