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

People wearing protective face masks walk in a historic district of Beijing, that is normally crowded with tourists, following the outbreak of coronavirus disease (COVID-19) in Beijing, China, March 26, 2020. REUTERS/Thomas Peter

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.

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