Yesterday, the People's Bank of China released the domestic debt data.

Currently, there are 1.15 billion adults in China, with a debt ratio of 73%.

At the same time, 650 million people have mortgages and car loans, accounting for 74% of the debt population.

The three main types of debt in China are:
Mortgage: 482 million people, 57%
Credit cards: 375 million people
Car loans: 187 million people

People aged 20 to 40 have an 85% debt rate.
People aged 40 to 55 have a 73% debt rate.
The good news is that after 55, there are very few debts.
Everyone should strive to live until 55.

The highest default rate for credit cards in China is 3%.

The average credit card debt per person is 50,000 RMB.

In 2024, the number of overdue credit card accounts will be 30 million.

Here's an interesting statistic:
People with a college degree or above have an 85% debt probability.
Those with a high school education or below have a 42% debt probability.

Based on this data, the conclusion is:
People who don't pursue education will have no debt after living until 55.