State-owned companies in China lost US$4.29 billion in earthquaket

By SPA,

Beijing : A Chinese government official says the estimated economic loss suffered by state-owned enterprises in the earthquake was 30 billion Yuan (US$4.29 billion; ¤2.74 billion).

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Li Rongrong said Wednesday that the figure was a preliminary one after the May 12 earthquake that has killed more than 41,000 people.

Li is chairman of the state body that oversees state-owned enterprises, the Associated Press reported.

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