March 26, 2020 / 3:13 PM / 3 days ago

China implementing $344 billion of mainly fiscal measures in coronavirus fight

BEIJING (Reuters) - China is implementing $344 billion (286 billion pounds) of mainly fiscal measures in its fight against the coronavirus outbreak, a Foreign Ministry official said on Thursday.

The money already spent includes 1 trillion yuan (117 billion pounds) in tax reductions, as well as liquidity released through targeted tools, Wang Xiaolong, director-general of international economic affairs at the ministry, told reporters.

Reporting by Gabriel Crossley; Writing by Ryan Woo; Editing by Mark Heinrich

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