Posted on 30th June 2011No Responses
China lost $6.65 bn due to floods in 2011



Beijing, June 30 (IANS) Floods in China have cost the economy a total of 43.2 billion yuan (around $6.65 billion) so far this year, the government said Thursday.

The State Flood Control and Drought Relief Headquarters said at least 239 people have died in floods in 2011, while 86 people were still missing, Xinhua reported.

More than 36.7 million people have been affected. Floods have destroyed around 106,500 houses and about 1.16 million hectares of crops.

Flooding in eastern and southern regions has worried farmers.

Cultivators said the floods have been the worst in 20 years, reducing vegetable output and also causing shortages of fruits and grains.

Prices for green vegetables have gone up drastically.

‘The economic cost of this is huge, as crops are being absolutely destroyed in central, southern, and particularly eastern China,’ an expert said.