Beijing: Extreme rainfall across swathes of China has resulted in over 16 billion yuan ($2.24 billion) in road damage, significantly straining the public purse, as reported by the transport ministry on Wednesday. This damage underscores the mounting climate risks impacting China's already ailing economy.
According to Bahrain News Agency, the preliminary estimate of the damage encompasses roads across 23 provinces, regions, and municipalities, which account for more than two-thirds of China's administrative divisions. The assessment covers the period since the official start of the flood season, as announced by Li Ying, a spokesperson for the transport ministry.
The flood season, commencing on July 1, has brought unprecedented rainfall to both northern and southern regions of China, contributing to substantial infrastructural damage. In response, the transport and finance ministries have allocated approximately 540 million yuan in emergency road repair subsidies to local authorities, Li added.
Since April, the Chinese government has committed 5.8 billion yuan in new funding for disaster relief efforts. The Ministry of Emergency Management reported that the combination of flooding, landslides, earthquakes, and drought resulted in direct economic losses amounting to 52.2 billion yuan in July alone.