Loans

As many as 100 million people are behind on payments of at least 2.2 trillion yuan (US$327 billion)

His comments come after data shows new loans rebound in August from July’s record contraction, but still miss forecasts

It is reportedly concerned about the repayment risks if interest rates rise or the incomes of younger borrowers fall

This comes amid efforts to raise funds to expand its global footprint as demand for AI capacity surges

They are expected to be issued on Aug 25 and listed on the Singapore Exchange

Affected customers will be contacted with information on what the move means for them and any next steps

This leaves the company struggling to find other funding options

Borrowing to fund AI raises worries over aggressive spending on tech that has not yet delivered consistent returns

Talks are ongoing, and no final decisions have been made, they add