BEIJING -- Southwest China's Xizang autonomous region has seen steady economic growth, with its regional gross domestic product (GDP) projected to surpass 300 billion yuan (about $42 billion) this year, according to a press conference held on Tuesday.

The region's GDP reached 276.5 billion yuan in 2024, 155 times that of 1965 -- when the autonomous region was established -- reaching an average annual growth rate of 8.9 percent, Wang Junzheng, secretary of the Communist Party of China Xizang Autonomous Regional Committee, told the press conference on the 60th founding anniversary of Xizang autonomous region.

Wang noted that while it took the region 50 years to achieve its first 100 billion yuan in GDP, the second 100 billion yuan milestone was reached in just six years.

Since 2021, sustained efforts have further expanded Xizang's economy while improving the quality and efficiency of growth.

Modern industries, including clean energy, cultural tourism and plateau light industry, are thriving, laying the foundation for a modern industrial system. The region continues to enhance its self-sustaining development capacity, with key economic indicators consistently ranking among the highest growth rates in the country for several consecutive years, Wang said.