China to keep prices stable this year, deepen reforms

BEIJING - China will ensure prices stay basically stable this year while at the same time deepening price reform, a vice chairman at the state planner said on Monday.

China has many favourable conditions to achieve its consumer inflation target this year, National Development and Reform Commission (NDRC) vice chairman Ning Jizhe said at a news conference in Beijing.

Premier Li Keqiang said on Sunday that China is targeting around a 3 per cent increase in the consumer price index (CPI) this year.

Last year, CPI rose 2 per cent.