Chinese earthquake to cost $250 million:RMS

The recent earthquake that struck the Chinese province of Yunnan will cost some $250 million in economic losses, according to U.S. catastrophe modeling firm Risk Management Solutions Inc.

RMS said that the magnitude 6.3 earthquake near the borders of Myanmar, Laos, and Vietnam on June 3 hit the Ning'er County and the tea-producing city of Pu'er the hardest. Three people died and more than 400 were injured.

Around 55% of the total economic loss is believed to be attributable to residential properties, mainly from the collapse of un-reinforced walls.

The rest is from building and contents damage to commercial properties and infrastructure.