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China Forex Losses Jump 13-Fold as Investors Brace for More

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China FX Losses up 13-Fold to $7.5B

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The impact of August’s yuan devaluation has shown up in Chinese publicly traded companies’ annual results -- and investors are bracing for more pain.

Some 980 listed Chinese companies reported combined foreign-exchange losses of 48.7 billion yuan ($7.5 billion) for last year, almost 13 times the amount in 2014, Bloomberg-compiled data show. Profits at those firms slumped 11 percent last year to 789.2 billion yuan. State-owned oil refiner China Petroleum & Chemical Corp., or Sinopec, reported 3.9 billion yuan in net FX losses, increasing from 179 million yuan in 2014.