Economic restructuring leading to quality growth in China - Economy & Society - Tibetol

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Economic restructuring leading to quality growth in China
update:August 16,2017
Tibet autonomous region topped the national chart in growth of five categories -- GDP, industrial added value, total retail sales of consumer goods, annual disposable income for urban and rural residents.
Zhou Yong, a researcher in Tibetan Academy of Social Sciences, attributes the outstanding economic figures to the social stability of Tibet, which is essential for fast economic growth.
Disposable income for people in Tibet grew by more than 10 percent in both cities and rural areas in the first half year.
"People have stable jobs and a stable source of income to spend, so retail figures of consumer goods for H1 rise by 14 percent, the fastest growth nationwide," he said.
The services industry, such as tourism, is also booming in Tibet.
Another western province Guizhou, capitalizing on big data, the information industry and tourism, has emerged as another top-performer in economic development.
Apple Inc is expected to set up a Chinese data center, costing 1 billion dollars, in Guizhou. In H1, revenue of Internet companies in Guizhou grew by 171 percent year on year. Tourism rose by over one-third year on year as the province becomes one of China's most popular tourists destinations.
Reshaping traditional industries
Shandong Energy Zaozhuang Mining Group in east China's Shandong Province has earned revenue from a new channel other than mining.
Its revenue for H1 was 55.8 billion yuan (about $8.2 billion), up 83.88 percent year on year.
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