Yingli will be advanced 2.5bn yuan from China Development Bank and 800m yuan from the government of Baoding, its home city in Hebei province, said Bloomberg, citing an unnamed source close to the matter and reports from local media.

The loans would allow Yingli to make a significant dent in its debt pile and restructure its operations, said the report, freeing it from a downward spiral that by the end of last year had left it relying on sales of land to keep its creditors from the door.

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