Tibet grows stronger capital market

LHASA, Nov. 14 (Xinhua) -- The total market value of Tibetan listed companies exceeded 80 billion yuan (13 billion U.S. dollars), surpassing the region's gross domestic product (GDP) in 2013, the regional securities regulator said Friday.

Tibet Autonomous Region now has 10 companies listed on the Shanghai Stock Exchange and another listed on the Hong Kong bourse. The listed companies cover industries of food, tourism, medicine, mining and construction.

The regional securities regulatory bureau said Tibet's capital market was developing more functions that would energize the economy.

One security firm and one futures sales office have been opened in Tibet, and the region has 21 private equity managers who run 59 funds worth more than 16 billion yuan.

The capital market will help Tibet deepen company reforms, improve economic structures and nurture special industries, said the region's finance office vice director Chen Manjiang,.

The Tibet Securities Regulatory Bureau will help nine more companies go public in the next few years, according to insiders.

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