Lhasa, Feb 1 (IANS): The capital market of China's Tibet region is prospering, with a market value far exceeding the region's gross domestic product.

Tibet's 12 listed companies reported a total market value of 140.76 yuan ($21.4 billion) at the end of 2015, about 1.37 times as much as the region's GDP for that year, Xinhua cited the regional securities regulator as saying on Sunday.

The plateau region has 11 companies listed on the Shanghai Stock Exchange and another one listed on the Hong Kong bourse. The companies cover diverse sectors including food, beverage, tourism, medicine, mining and construction.

Meanwhile, Tibet's equity market is thriving with security firms, futures sales office, public fund management institution and private equity managers.

In March last year, China Securities Regulatory Commission vowed to help Tibet's businesses expand through a multi-layer equity market with continued prior handling of initial public offerings (IPOs).

The commission promised to help Tibet's businesses to issue corporate bonds on the Shanghai and Shenzhen stock exchanges and the new national stock transfer system for smaller firms.

The commission also encouraged private funds to invest in Tibet, especially in farming and husbandry, Tibetan medicine and handicrafts.

About 33 Tibetan businesses are planning to go public.

"The capital market has proven an important part of Tibet's economy and has played a vital role in deepening corporate reforms, optimise allocation of resources, improve economic structures and foster special industries," said Wang Daiyuan, a specialist on economic strategies with Tibet's Regional Academy of Social Sciences.

Wang said he was expecting more listed companies in health and hydropower industries in the coming five years.

Tibet had its first listed company in 1995.