There may be fees for taking out a loan or credit card. That's why minimising debt, as far as possible, is essential for your financial wellbeing.
Household debt is rising in China, and hit 60.4% of its GDP at the end of 2018, according to the People's Bank of China (PBOC). The household debt to income ratio hit 99.9 per cent, meaning that total debt is now roughly the same as total household income.
If you are struggling with the high price of debt, you have several options: