Economy

Small yuan appreciation good for Chinese economy: central bank

(Agencies)
Updated: 2010-12-30 10:51

BEIJING?- 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.

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