Sichuan’s industries face $10bn loss post quake

20 May 2008 05:46  [Source: ICIS news]

SINGAPORE (ICIS news)--The devastating earthquake in China’s Sichuan province has resulted in losses of around CNY67bn ($9.6bn) to the local industries as per Chinese government estimates, local media reports said on Tuesday.

China’s Vice Minister of Industry and Information Technology Xi Guohua had said that an investigation revealed that 14,207 industrial enterprises had incurred CNY67bn in direct economic loss in the calamity, local media Xinhua added.

Disaster modelling and consulting company AIR Worldwide had said on Thursday that the cost of damages arising from the Sichuan quake could exceed $20bn.

Its estimates were based on the level of insurance coverage as well as property data in the disaster area, taking into account the losses for residential, industrial and construction properties.

Measuring 8.0 on the Richter scale, the quake on 12 May had resulted in over 34,000 casualties as per official figures while the eventual numbers were expected to exceed 50,000.

($1 = CNY6.97)

Have you personally or your business been impacted by the earthquake in China? If you have any information or thoughts you would like to share, post your comments or photos on the ICIS China Earthquake forum.
You can also send photos and video directly to us at icisnews.asia@icis.com or icisnews.europe@icis.com.  

By: Cheang Chee Yew
+65 6780 4359

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