The yuan's swings are becoming a headache for the Chinese companies that should have been the biggest beneficiaries of the 2015 devaluation. In rare overt comments, exporters including Midea Group Co and TCL Corp are expressing apprehension about the nation's exchange-rate policy. Two said the increased volatility has made it difficult to manage costs because customers are choosing to place only short-term orders, while a third said the yuan was allowed to strengthen far too much in the past few years. "Overseas clients are taking into account losses that can be cause by exchange-rate swings and are placing shorter-term orders with smaller volumes, which creates difficulty for our operations," said Yuan Liqun VP at Midea, China's biggest maker of household appliances by market share.
