China Quake Estimates: 50,000 Dead; $9.5 billion in Company Losses

May 20, 2008

China’s government says companies suffered 67 billion yuan (US$9.5 billion; €7 billion) in direct losses from last week’s earthquake.

The announcement by a deputy industry minister, Xi Guohua, came during a news conference Monday.

The May 12 quake in central China’s Sichuan province killed an estimated 50,000 people.

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