The toll was likely to rise as the storm roared its way through the area and into neighbouring provinces.
"The typhoon has killed 115 people in the entire Zhejiang province, with 16 others missing," state television CCTV reported in its Friday evening news.
Officials confirmed local newspaper reports that 1800 people had been injured.
Another official said at least 15 people were missing and the toll was likely to rise.
"The conditions are very bad and because we are still gathering information this figure is likely to increase," he said.
Typhoon Rananim landed in Wenling city on the coast of Zhejiang province, about 135km south of Shanghai late on Thursday, causing widespread damage.
Local newspapers reported that 18,300 homes had collapsed.