China’s central bank said on Wednesday it will keep monetary policy steady in 2014, even as the finance ministry said fiscal spending had surged nearly 25 percent in May from a year earlier, highlighting government efforts to energize the slowing economy. Total fiscal spending in May rose to 1.3 trillion yuan ($208.75 billion), quickening sharply from a 9.6 percent rise in the first four months of the year. The higher spending comes as the world’s second-biggest economy got off to a soft start to the year, growing at its slowest pace in 18 months in the first quarter. The economy has since shown some signs of stabilizing, but the recovery appears patchy and analysts do not rule out further stimulus measures, especially if the cooling property market starts to rapidly deteriorate. Fiscal revenues rose 7.2 percent in May from the same month last year, slowing from […]