Financial services in China's Tibet Autonomous Region continue to grow rapidly with new loans increasing at a much faster rate than the national average.

In the first three quarters of this year, new loans in Tibet reached 33 billion yuan (5 billion U.S. dollars), registering a 20 percent growth.

The assets of all financial institutions in Tibet reached 371 billion yuan by the end of September, 17 percent more than the amount registered in the same period last year, the Tibet Bureau of China Banking Regulatory Commission said on Friday.

The non-performing loan ratio is only 0.4 percent, much lower than the national average of 1.59 percent.

New loans to small businesses and agriculture also surged.

According to the Tibet Bureau of China Banking Regulatory Commission, the banking industry in Tibet is operating smoothly with increasing support to the real economy.