Southwest China's Tibet Autonomous Region issued a new regulation to exempt taxes for eight years to new energy-oriented enterprises, the Tibet Daily reported.

The new regulation involves 11 preferential policies to encourage more clean energy enterprises in Tibet.

Enterprises investing in solar energy, wind energy, methane and other green energy will be exempted from the income tax for seven years, while those meeting the state and regional environmental protection standard of sewage disposal and garbage recycling will be exempted from 8-year tax income, the regulation says.

The timer of tax year won't start until the enterprises garner its first revenue.

Tibet is abundant with water resource and is one of the regions in the world with ample solar energy. At present, the clean energy in Tibet include solar energy, wind energy and geothermal energy.