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China: Drought in Henan Province inflicts economic loss of $1.18 billion

August 12, 2014 - 6:00am

Drought in China's Henan Province has resulted in direct economic losses of 7.3 billion Chinese yuan ($1.2 billion), with 97% of it being in the agricultural industry, local authorities said.

The provincial civil affairs department said the drought will affect autumn grain output, Xinhua reported. Meanwhile, Liaoning Province is experiencing its worst drought in 53 years.

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