China has allocated an additional 500 million yuan (about $69.4 million) for disaster relief and reconstruction in flood-affected regions, Xinhua News Agency quoted the Ministry of Finance as saying on Monday.

The additional sum, on top of the 1-billion-yuan allocated on August 9, will be used to support the restoration of production and life in areas of Tianjin and Hebei that were used for national flood detention and storage, according to the ministry's official.

The additional funding will go toward providing compensation for property losses incurred by residents living in these areas, including damage to crops, animal and poultry farms, commercial forests, houses and agricultural machinery, the ministry's official said.

Source: Saudi Press Agency