Agony for some, ecstasy for others

The latest devaluation of the Chinese currency in the past two days has prompted widespread concern about the possible benefits and losses.

Winners:

A lower yuan will help rejuvenate the country's iron and steel industry, which is currently facing overcapacity issues. The Belt and Road Initiative has already provided the iron and steel industry with a new perspective for foreign trade. The yuan devaluation will make iron and steel enterprises more competitive in terms of exports and reduce the industry's overcapacity.