Gansu Faces $75 Million in Direct Economic Loss After China Earthquake

The magnitude-6.2 earthquake that just struck Gansu, China, caused direct economic losses of 532 million yuan ($74.6 million), according to news agency Bloomberg, which cited the national broadcaster. It was the deadliest earthquake to strike the nation in ten years.

According to the study, the province of Gansu is estimated to have lost 345 million yuan on animal husbandry and 102 million yuan on crop production by Chinese officials.

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The epicentre of the earthquake was located between the provinces of Qinghai and Gansu. Ten kilometers was its focus depth. Both regions suffered significant damage as a result of the earthquake. In certain places, it also caused landslides that devastated rural and highway roads. In Gansu, thousands of homes—many built of mud and clay—were devastated. Over a hundred individuals died as a result.

As of Friday, the official Xinhua News Agency released numbers indicating that 781 people had been injured and 148 people had apparently perished as a result of the accident. In the two provinces, more than 139,000 people have been placed in emergency shelters.

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About Gansu Province in China

One of the poorest provinces in China is Gansu, which is situated in the northwest of the nation. As of 2022, its GDP placed it 27th out of 31 Chinese provinces and municipalities.

It is located at a high altitude where wintertime lows can reach below zero. It is well known that earthquakes are more common in Gansu’s eastern region. In July 2013, the area experienced an earthquake of magnitude 6.6. This was almost ten years ago. At that point, 95 people have perished in the tragedy.