Warehouse owner to compensate for Tianjin blast losses

Those affected by two fatal blasts in China's Tianjin city will be compensated by the owner of the warehouse where the August 12 explosions took place, authorities said.

More than 120 injured people, including five who are still in critical condition, remain in hospital, while 673 others have been discharged, Xinhua news agency quoted Zhang Yong, head of the Binhai New Area in Tianjin city as saying on Sunday.

At least 165 people died in the explosions, while another eight still remained missing.

The dead include 110 firefighters and policemen who were killed during the response operation.

The compensation process has begun for 11,000 damaged houses and 414 affected companies.

Zhang said Binhai New Area will launch an improvement campaign focusing on safety at companies that deal with dangerous chemicals and goods.

The warehouse is owned by Rui Hai Int. Logistics Co. Ltd., which was founded in 2011.

Chinese Premier Li Keqiang on Tuesday urged officials to accelerate the investigation into the blasts, saying that those responsible should be severely punished.

Several company executives and local officials have been arrested.