(Yicai) Sept. 11 -- Typhoon Yagi, the second-most powerful storm to ever hit China, has led to economic losses of at least CNY78.6 billion (USD11 billion) in southern Hainan province, equivalent to one-tenth of the tourism hub's gross domestic product last year.

The typhoon caused direct economic losses of CNY9.6 billion (USD1.4 billion) in the northwestern Lingao county, the Hainan government announced yesterday. Yagi severely affected 400,000 people, equal to around 96 percent of the administrative district's population, it added.

According to previous press conferences held by the provincial government, Typhoon Yagi caused combined losses of more than CNY69 billion in Haikou, Wenchang, and northwestern Chengmai county.

Typhoon Yagi made landfall near the coast of Wenchang on Sept. 6, with maximum wind speeds at the center reaching 62 meters per second. It is the second strongest typhoon to make landfall in China after Rammasun, which hit Hainan in July 2014 with maximum wind speeds of 70 m/s.

Typhoon Rammasun caused direct economic losses of CNY12 billion in Hainan, six times less than the losses already caused by Yagi, according to official figures.

As of Sept. 7, Yagi had affected 526,100 people across 19 cities and counties in Hainan, resulting in four deaths and 95 injuries. The typhoon caused significant damage to crucial infrastructure, including water, electricity, natural gas, and roads, as well as to agriculture and the service industries, according to the local government.

Editors: Dou Shicong, Martin Kadiev