The building faltered around noon Sunday and the 24-year-old woman identified only by the surname Dong was pulled from the debris at 10:40 a.m. Monday, Xinhua news agency reported.
Another woman was pulled from the rubble around 4:50 p.m., but died of her injuries shortly thereafter at a local hospital in Ningbo City, which is located in the eastern Zhejiang province.
The building, which was built in 1989, housed 18 families in total. Residents in several neighboring buildings have also been evacuated. A full accounting of fatalities wasn't provided.