China will keep working to rein in stubbornly high inflation, which was being driven by rising fuel and commodity prices and strong domestic demand, Vice Finance Minister Li Yong said on Wednesday. China's consumer price index rose an annual 5.4 percent in March, the biggest increase in nearly 3 years, and authorities have taken a series of policy steps to contain inflation.
"(Rises in) interest rates and deposit ratio and also some other measures are being taken recently, and we will continue this process to curb inflation as well," Li told a news conference in Hanoi at the end of a meeting of ASEAN+3 finance chiefs. The government has a target of 4 percent annual inflation, but some analysts said it could be tough to achieve that goal given increasing labour costs and rising commodity and fuel prices.