March 26, 2020 / 5:32 PM / in 7 days

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

FILE PHOTO: A picture illustration shows a U.S. one dollar and Chinese 10 Yuan bank notes, taken in Warsaw January 26, 2011. Picture taken January 26. REUTERS/Kacper Pempel

BEIJING (Reuters) - China is implementing $344 billion 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 ($141 billion) in tax reductions, as well as liquidity released through targeted tools, Wang Xiaolong, director-general of international economic affairs at the ministry, told reporters.

($1 = 7.0749 Chinese yuan renminbi)

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

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