Last month's earthquake that struck the Chinese province of Yunnan will cost some $250 million in economic losses, according to a new study by Risk Management Solutions and the Institute of Engineering Mechanics in China.
The magnitude 6.3 earthquake near the borders of Myanmar, Laos and Vietnam on June 3 hit Ning'er County and the tea-producing city of Pu'er the hardest.
Three people died and more than 400 were injured.
The impacted region is mountainous and remote, and has experienced slow economic development. "As a result, many buildings are old and have little resistance to earthquakes," the study noted.
With a depth of only five kilometers, the earthquake produced cracks along the ground which caused water to flow to the surface and mudslides to be triggered, RMS said.
In addition to property damage, communications, water supply and local infrastructure were affected, the company said.
Of the total economic loss, the study said that around 55 percent is believed to be attributable to residential properties, primarily from unreinforced walls collapsing.
The RMS earthquake model development partner, the Institute of Engineering Mechanics of the China Earthquake Administration, surveyed the damage from the earthquake within days of the main shock.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.