Small Yuan Appreciation Good for Chinese Economy: Central Bank

BEIJING, Dec. 31 -- A small and gradual appreciation of yuan will have a significantly more positive than negative impact on China's domestic economy, said a senior Chinese central bank official on Thursday.

According to a Reuters' report, Sheng Songcheng, chief of the statistics department of the central bank, told Financial News that the central bank should push forward the exchange mechanism reform in an orderly manner.

The mechanism reform will give businesses adequate adjustment time and relatively accurate expectations for the exchange rates changes, Sheng said.