(Bloomberg) -- China’s flood-stricken Henan province will be bracing for more heavy rain, just a day after a deluge sparked the evacuation of 165,000 people and left at least 25 dead.
Precipitation of as much as 668 millimeters in some cities of the central Chinese region, as well as neighboring Hebei surrounding Beijing, was reported from Wednesday and is seen lasting till Thursday, according to the China Meteorological Administration. Zhengzhou, Henan’s capital city of more than 10 million people, is reeling from the record rainstorm that brought a year’s worth of precipitation in just three days.
At least 25 people have been killed while seven others are missing, according to the latest government figures. Videos circulating on social media earlier showed subway passengers standing in chest-high water, cars being swept away as floodwater poured through streets, and children trapped in mud. At least 12 people died in the subway.
It typically takes days or even weeks to get a clearer picture of how devastating disasters of this nature have been on both human life and economic losses. The latest figures from the Chinese government on Thursday morning estimated the financial loss from damaged crops at about 542 million yuan ($84 million).
The State Council urged for more flood control and disaster relief measures as some regions still face heavy rainfall, state broadcaster CCTV reported, citing a cabinet meeting chaired by Premier Li Keqiang. The Ministry of Finance on Wednesday earmarked 100 million yuan in disaster relief funds for Henan province.
Meanwhile, China’s banking and insurance regulator told lenders to adjust financing policies in the flooded region and refrain from calling back loans to companies that halted their business due to the disaster. The body also encouraged banks to lower loan rates and service charges for affected merchants.
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