Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Yingli Gets $324 Million From China Development Bank

Yingli Green Energy Holding Co., a Chinese solar-module maker, has a “framework agreement” for $324 million of China Development Bank funding for a so-called trade platform in Hong Kong used to import raw materials.

The state-run lender will provide 150 million yuan ($24 million) and $300 million, Yingli said in an e-mailed statement yesterday.

The platform will help Yingli reduce foreign-exchange and financing costs, it said. Yingli bought about 17 percent of raw materials through Hong Kong in 2011 and the proportion will probably surge to 40 percent this year, the company said.

China Development Bank has offered at least $47 billion in credit lines to help China’s solar- and wind-energy companies since 2010. The support drew complaints from U.S. producers led by Solarworld AG that have sought duties on Chinese companies accused of using cheap funds from state lenders to sell solar panels on Western markets below the cost of production.

“It’s just a framework agreement,” Miao Qing, director of investor relations at Yingli, said in a telephone interview. “Yingli borrowed little from a $5.6 billion credit-line deal signed in 2010.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.