China's state-run news agency says at least 70 people are dead or missing after a week of heavy rains across the country.

Xinhua Friday reported that the downpours and resulting floods and landslides have killed 49 people, with 21 others reported missing.

In a statement, the National Disaster Reduction Commission has estimated nearly $1 billion dollars (or 6.39 billion yuan) in direct economic losses as a result of China's rain-triggered disasters.

The commission also says more than 300,000 people were forced to evacuate their homes as a result of the floods and landslides.

The Associated Press reports that seasonal flooding last month left more than 260 people dead or missing in eastern and southern China.