China Faces Massive Road Repair Costs After Flooding
Recent flooding across 23 regions in China has caused road damage valued over 16 billion yuan. Emergency repair funds amounting to 540 million yuan have been distributed to local authorities by transport and finance ministries to address the crisis.
- Country:
- China
China is grappling with extensive road damage following devastating floods across 23 provinces, regions, and municipalities, estimated to exceed 16 billion yuan, according to a report by state broadcaster CCTV on Wednesday.
The Chinese government has responded by deploying 540 million yuan in emergency repair subsidies. These funds, coordinated by the transport and finance ministries, are expected to facilitate local authorities in the reconstruction efforts.
In a currency exchange perspective, the current rate positions $1 at 7.1529 Chinese yuan, highlighting the enormous financial burden this natural disaster has inflicted on the nation's infrastructure.
(With inputs from agencies.)
Advertisement
Google News