Southwest China's Xizang Autonomous Region has undergone rapid economic development in recent years. The region took the lead in the growth rates of major economic indicators across the country in 2023, according to the regional government work report.

Graphics: Rapid economic development in Xizang

Xizang achieved a regional gross domestic product (GDP) growth of 9.5 percent in 2023, compared to the national growth rate of 5.2 percent. Its GDP per capita exceeded 60,000 yuan ($8,303). The per capita disposable income of urban and rural residents rose by 6.5 percent and 10 percent, respectively.

The region's fixed-asset investment increased 30 percent year on year, with investment in infrastructure up by 34.8 percent and investment in areas related to people's livelihoods up by 31.8 percent. Its retail sales increased 22 percent, and foreign trade surged 130 percent compared to a year ago.

In 2023, Xizang's tourism industry set a historical record with tourist arrivals exceeding 55 million and tourism revenue surpassing 65 billion yuan.

The Xizang regional government is eyeing greater development goals this year and beyond. For 2024, the region has set a GDP growth rate target of around 8 percent, significantly higher than around 5 percent growth targets set by many other regions in China.