Ministry of Finance and Ministry of Water Resources said that the funding will support flood prevention efforts and repair damaged infrastructure in the Beijing-Tianjin-Hebei region, Beijing-based daily Global Times reported.

Meanwhile, China’s meteorological authority has forecast hotter weather, more heavy rainfall, and three tropical cyclones that could develop into typhoons in some regions during the current month of August.

The storms are predicted to mainly affect the nation's east and coastal areas in the south, it added.

Natural disasters such as flooding, rainstorms, droughts, and wildfires are also forecast by the meteorological authority.

Throughout August, these regions are expected to receive more rainfall compared to the previous years, and temperatures are expected to be on par with or exceed historical records for the same period, according to the forecast.

It has also been forecast that most areas in southern and northeast China will receive 20-60% more precipitation over the next 10 days than during the same period in previous years.

In some regions, rainfall may even double or triple.

China is witnessing the highest rainfall in 140 years since Typhoon Doksuri hit the country last Friday.

So far, the heavy rains have killed 20 people, 11 of whom were in Beijing, and 19 are still missing.

In northwest China, a 10-day heat wave will begin Friday, with temperatures reaching 40C (104F) in some areas.