Flooding in China’s Hebei Kills 105; $2.3 Billion in Losses Seen

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1469276761_GettyImages-578136920 copy

  • More than 100 missing after government evacuates 307,300
  • Nation’s worst flooding since 1998 seen paring 3Q growth

Flooding in China’s northern Hebei province has killed 105 people and led to direct losses of 15.4 billion yuan ($2.3 billion) to the economy, the local government said on Saturday.

About 307,300 people were evacuated and 104 are missing, according to a statement from Hebei’s government. Water supply in the provincial capital Shijiazhuang has been disrupted due to contamination, the Xinhua News Agency reported Friday.

China’s worst flooding since 1998 may cut third-quarter growth by as much as 0.2 percentage points, according to a Bloomberg survey of economists. The economy grew 6.7 percent in three months through June, matching a first-quarter expansion that was the slowest since 2009.

— With assistance by Judy Chen

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