Reuters reports, citing policy sources familiar with the matter

China CPI vs PPI

That will mean keeping their inflation targeting unchanged from last year, which stifles speculation that they might have increased it in order to give room for extra stimulus.

The report cites three sources in saying that the target was endorsed by top leaders at a conference last month with policy insiders expecting consumer inflation to ease in 2H 2020 and that PBOC easing policies remain on track despite higher inflation recently.

For some context, the official inflation target will only be unveiled at the National People's Congress - held in March.

There have been murmurs that China may adopt a higher inflation target this year due to the recent overshoot - despite producer prices in deflation territory - so as to try to keep economic expectations more steady without adding to financial risks.

That doesn't look to be the case but we'll see if there are more reports to back this up over the next few weeks. In any case, just continue to keep an eye on Chinese CPI data as it will be one to watch this year for any further signs of economic worries.