China's flood-hit Henan to get nearly $300 mln in emergency aid, donations

by Reuters
Wednesday, 21 July 2021 06:21 GMT

Residents wade through floodwaters on a flooded road amid heavy rainfall in Zhengzhou, Henan province, China July 20, 2021. Picture taken July 20, 2021. China Daily via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.

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Henan has been hit by deadly storms, with at least 12 deaths reported so far, property damage and major disruption to life in the province

(Corrects Foxconn's Reuters Instrument Code to 2317.TW in last paragraph)

BEIJING, July 21 (Reuters) - A raft of Chinese companies, insurers and a state-backed bank said on Wednesday they had offered donations and emergency aid to local governments in flood-stricken Henan province amounting to 1.935 billion yuan ($299 million).

Henan, a province with a population of around 109 million, has been hit by storms since the weekend, resulting in 12 deaths reported so far, the bursting of major river banks and flooding of streets in a dozen cities, damaging auto vehicles, property, and upending the daily life of millions.

More than 20 life insurers and property and casualty insurers said they have opened a fast track for emergency compensation and insurance payouts, according to their respective statements posted on the website of Henan's Insurance Association.

Three local branches in the rain-hit Xuchang city of Agricultural Development Bank of China are preparing a contingency loan of 1.1 billion yuan, according to a statement by the Beijing-based policy bank sent to Reuters on Wednesday.

Tech giants and listed firms also rushed to offer donations, with Alibaba Group, Jack Ma's foundation, and its fintech affiliated Ant Group offering to donate a combined 250 million yuan.

Tencent Holdings, ByteDance, Meituan, Didi Chuxing and a unit of Taiwan's Foxconn, which operates several plants, each said they will donate 100 million yuan.

($1 = 6.4715 Chinese yuan renminbi)

(Reporting by Cheng Leng, Yingzhi Yang and Ryan Woo; Editing by Kenneth Maxwell)

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