China To Keep Credit Taps Open Despite Big Jump In Fiscal Spending

China on Wednesday released data showing that government spending increased 25 percent in May from a year earlier and its central bank said it will hold monetary policy steady, suggesting more big spending in an effort to boost faltering growth. China said its fiscal May spending 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," according to Reuters.