China's central SOEs to invest heavily in Tibet

China's centrally administrered state-owned enterprises plan to invest over 80 billion yuan (12.7 billion US dolloars) in Tibet Autonomous Region during the 2011-2015 period, according to the State-owned Assests Supervision and Administration Commission (SASAC).

As of the end of last year, central SOEs had invested 40 billion yuan in Tibet projects relating to electricity, water conservation, telecommunication, energy, mining and tourism, with projest contracts in the region valuded at more than 24 billion yuan.

SASAC has urged these enterprises to step up support for the region and play a bigger rold in facilitating its development, as well as work to preserve the region's environment in the process.

China's centrally administered SOEs reported net profits of 917.33 billion yuan in 2011, up 6.4 percent year-on-year, according to official data.

From Chinadaily