The funds will support the repair of public infrastructure and 1,517 damaged houses, relocation of 6,245 people and search for 16 others who remain missing.
Solid sediments caused rivers to overflow and, as a consequence, at least two complete buildings, other houses, several roads and bridges were damaged.
In the last few hours, rescuers have found 20 people alive and they are searching for others who are still missing.
China has Beijing, Tianjin, Hebei, Shanxi, Inner Mongolia, Liaoning, Heilongjiang, Shaanxi and Gansu, all in the north, under alert because the rains can trigger floods, mountain torrents and landslides.
That phenomenon has affected millions of people and threatens autumn crops, livestock yields, electro-energy service and tourism.