The catastrophe killed nearly 70-thousand people and led to direct economic losses of over 845-billion yuan.

Hu Jintao, Chinese President,said, "I firmly believe that no hardship could knock down the heroic Chinese people."

The government said the disasters did not affect the fundamental aspects of China's economy. But they did bring more uncertainties to the country's development,such as inflationary pressures.

But all this didn't affect China's ability to successfully host the Beijing Olympic Games. The event was not only a promotion for Beijing, but the whole country. And analysts believe the Games will have long term advantages for China's economy.