10% of Chinese can’t repay whole lifetime: Every 5% drop wipes out $2.8 trillion in housing wealth

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Hello, this is China Deep Dive. We have all the information you need to know about China at present. Today's topic is:
Chinese media reports that the number of credit cards in China has dropped to 2018 levels, a decrease of 120 million from the peak in the third quarter of 2022. Strangely, starting in 2025, the central bank will no longer disclose data on "total credit card debt overdue for 180 days."

The disappearance of credit cards has two main reasons: a sharp decline in population and a ballooning debt. In this episode, we will focus on the latter, examining how this massively indebted population survives under pressure.

10% of Chinese can’t repay whole lifetime: Every 5% drop wipes out $2.8 trillion in housing wealth
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