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China Quake Losses Exceed 1 Trln Yuan - Report |
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| CHINA: July 3, 2008 | ||
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BEIJING - Direct economic losses caused by May's devastating earthquake in southwest China have already exceeded 1 trillion yuan (US$146 billion), a provincial official was quoted as saying.
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The website of the ruling Communist Party mouthpiece newspaper the People's Daily (www.people.com.cn) said that Huang Xiaoxiang, a vice governor of Sichuan province, gave the estimate to a visiting US delegation. The figure was much higher than the 67 billion yuan previously announced by Xi Guohua, a vice minister of industry and information technology, at a news conference in May. China's 2007 gross domestic product was 24.95 trillion yuan. The earthquake killed about 70,000 people and made more than 10 million homeless, according to official figures. (US$1=6.8561 yuan) (Reporting by Zhou Xin, editing by Ben Blanchard)
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REUTERS NEWS SERVICE
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