Southwest China's Tibet Autonomous Region established its first investment company on Wednesday to promote economic development.

Tibet Autonomous Region Investment Co., Ltd. was funded by the regional finance department with a registered capital of 600 million yuan (87.6 million U.S. dollars).

The company will be a platform for capital financing, attraction of expertise and industry investment, said board chairman Wang Yunjin. Its business includes securities, funds, banking, real estate, transport, tourism and the high-tech sector.

Investment has played a key role in driving the growth of the region, which is still underdeveloped compared with the central and eastern coastal region.

(Xinhua News Agency October 2, 2008)