Tibet’s foreign trade surged in 2018 - Economy & Society - Tibetol

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Tibet’s foreign trade surged in 2018
By:China Tibet News
update:February 26,2019
Feb. 26, 2019 -- Thanks to a series of favorable policies for enterprises and the enhancement of competitiveness among foreign trade businesses, Tibet's foreign trade sees steady progress with good momentum in recent years.

In 2018, southwest China's Tibet Autonomous Region achieved 4.8 billion yuan RMB in imports and exports, 99 million yuan RMB of which went to border trade. Twenty-six new foreign-invested enterprises have been established in Tibet with 60 million U.S. dollars' foreign investment in actual use. Meanwhile, thirteen outbound direct investment companies (non-financial) have been newly established, altered and realized capital increasing with an investment of 444 million U.S. dollars.

187 million yuan RMB from the central government's budget was used to strengthen the construction of infrastructure in border ports like Gyirong and Purang, so as to promote the mutual connectivity with Nepal and other neighboring countries. In addition, in response to the requirement from the State Council, the "Single Window" service system has been established in border ports to provide a one-stop service in international trade.

"Tibet's foreign trade is expected to be flourished in 2019. We will accelerate the construction of border ports to facilitate the practice of foreign trade policies." said Penpa, head of the Commerce Department of Tibet Autonomous Region.

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