China Storms Kill 129, Economic Loss at $21 Billion (Update2)

How much did China’s worst snowstorms in five decades cost? According to Bloomberg, $21 billion in direct economic loss and 129 people died:

Blizzards, ice and freezing temperatures since January have forced the evacuation of 1.66 million people and collapsed 485,000 houses, the official Xinhua News Agency said, citing Vice Minister of Civil Affairs Li Liguo…

China will increase subsidies to grain farmers by 20.6 billion yuan this year to cover rising costs after the snowstorms drove up prices of fuel and fertilizers, the Ministry of Finance said Feb. 21.


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