The agency quoted the Civil Affairs Ministry as saying 37.4 million people had been affected, with 2.7 million ha of farmland damaged.
More heavy rain is predicted.
The closing down of the PLA's massive business empire will be implemented alongside the downsizing of the army by 500,000 troops, a newspaper report said. Large companies directly under the General Staff, will be transferred to State Council control while those run by the Military Area Commands will be handed to local governments, sold off or closed down. Chinese central bank governor Dai Xianglong says Japan has the strength to prevent the yen from depreciating further if it wants to. Last week the Japanese Embassy in Beijing complained about Chinese criticism of Japan's economic performance. Goods confiscated included raw materials for the plastics industry, steel, new and used cars and components, refined petroleum, paper, aluminium foil, raw materials for the chemical industry, air conditioners, telecoms equipment, film developing equipment, film and pirated VCDs.