Tibet receives $455.5m foreign investment

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LHASA, Aug 20 (Xinhua): Lhasa, the capital of west China's Tibet Autonomous Region, received 455.5 million US dollars of overseas investment in the first seven months of 2008, up 33 per cent year-on-year.

The majority of the investment, or 95.3 per cent of the total, went into the industrial sector, which includes non-ferrous metal smelting, the manufacturing of machinery and chemical products, food processing and geological prospecting, according to figures from the city's statistics bureau Monday.

Driven by tourism development, tertiary industry has become a new draw for investment in the city, which used 15 million US dollars of overseas investment between January and July, nearly triple the year-earlier level.