Muifa Inflicts Heavy Economic Losses

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BEIJING, Aug. 9 (UPI) — Muifa, a typhoon-strength storm spawned in the west Pacific, weakened into a depression Tuesday, but not before inflicting heavy economic losses on China.

The State Flood Control and Drought Relief Headquarters said Tuesday direct economic losses from the storm were estimated at 3 billion yuan, or $466 million, Xinhua reported.

The storm landed in North Korea and weakened into a depression over northeast China’s Liaoning Province, forecasters said.

Torrential rains triggered by the storm earlier lashed China’s financial capital of Shanghai and the heavily populated provinces of Liaoning, Zhejiang and Jiangsu, affecting 1.74 million people.

The storm destroyed more than 600 homes, damaged 4,800 homes others and affected 250,000 acres of farmland.

The government evacuated 1.3 million residents ahead of the storm, the report said.

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