Economy
The economy of the prefecture has undergone substantial progress in recent years following the reform policy and opening of the area by the Tibet Autonomies Region to development support from China and other countries. The economy of the prefecture in 2007 consisted of GDP of RMB 3.3 billion (US$441 million), which ranked sixth in the Tibetan Autonomous Region. The composition of this GDP consisted of the Agriculture sector (smallest contributor)-10.1%, Secondary Industry of Industry & Construction sector -37.4% and the service sector is the Tertiary Industry as the largest contributor accounted for the balance 52.5%. The PDP per capita was RMB 7,407 (US$1,005). Consumer goods alone accounted for substantial GDP. In terms of value-added industrial output, it ranked third, next to Lhasa and Qamdo / Chamdo / Pinyin: Changdu.
Tourism is also an important sector contributing to the economy of the region. A Report of 2007 records a tourist footfall of 703,000. However, this sector is not fully open and is subject to the permit system controlled by many governmental agencies, and many areas are out of bounds for visitors as they are military zones or sensitive areas.
- Agriculture
The prefecture had 450,000 hectares (1,100,000 acres) of land (350,000 hectares (860,000 acres) were irrigated, which was 77% of the cultivated area) under cultivation in 1999, producing 4,725 kilograms (10,420 lb) of grain per hectare, which marked Shannan as an important commercial grain production centre in Tibet. Animal husbandry, another agrarian sector covered 2.2 million ha of posture land with all farmhouse holds involved in animal husbandry; there were 2.14 million heads of domestic animals (comprising 12 percent yaks, 10 percent cows, 50 percent sheep and goats 20 percent goats). Its agricultural tradition is traced to the ancient Yarlong tribes when the prefecture was known as "the grain store of Tibet". The irrigated agricultural base of the prefecture is supported by a network of 1,312 canals, 141 wells with pumping stations with installed capacity of 2,398 kilowatts; 27 irrigation pumps with an installed capacity of 1,552 kilowatts, nine reservoirs with storage of 3.31 million cubic meters and 816 water ponds. Mechanised farming is widely practiced in Shannan Prefecture. This large extent of agriculture has resulted in increasing the per capita income of farmers and herders to 1000 yuan, a 7-fold increase over the average of 137 yuan in 1959. This has also resulted in rural prosperity and even creation of a rich farming community who have established the first "farmers hotel" in the region, and investing in real estate.
- Mineral resources
The prefecture has more than 20 types of metal and non-metal mineral resources such as chromium, gold, copper, iron, antimony, lead, zinc, manganese, mica, crystal, jade and marble. Its proven reserve of chromium is about 5 million tons, the highest in the country, which is about 35–45% of the China's total resources (in a total area of 2,500 square kilometres (970 sq mi)). It is being extracted in the Norbusa Chromite Mine. Other natural resources relate to construction industry such as marble, granite, limestone and clay, which are also abundant in the prefecture.
- Industries
The industrial sector in the prefecture, apart from service sector trading, are industries in the fields of electricity, mining, farm-implement and vehicle repairing, cement, metallurgy, printing, pharmaceuticals, food processing. Light industries for processing of agricultural and livestock products and pharmaceuticals are widely adopted by replacing manual operation with mechanization and semi-mechanization. However, most textiles and leather processing are yet to be mechanized.
- Handicrafts
The ethnic handicrafts of the prefecture have a hoary history. This has generated many opportunities to develop the handicraft industry. The most significant handicrafts of the prefecture, which have world-wide market, are the commercial products of utility, religious use and artistic crafts of the royal families of Tibet of the past. These are: The pulu blanket, Minzholin Tibetan incense and knitted products (of Zhanang County), bagdion apron (of Gonggar County), bracelets, necklaces, incense burner of Qonggyai, carpets and butter bottles of Qusum, popular stone utensils of Zaga and Sangri, Cona handcrafted wooden bowls, butter tea Cup of Jiyayu, knife of Lhunzi (gilded with silver), Nagarze silver tea cup, jade ware of Quingje County and Tibetan quilt. Other famous consumer products are the butter of Lagong and dried meat of Yamzhog.
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“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
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