'Buy now, pay later': 87% of young Chinese are debt-ridden, says report

The report makes a revelation that Chinese youngsters between the age of 18 to 32 are prone to "buy now, pay later" option.

A colossal 86.6 per cent of the 175 million people born in China during the 1990s are in debt, reveals Taiwan News citing a Chinese report.

The report makes a revelation that Chinese youngsters between the age of 18 to 32 are prone to "buy now, pay later" option and also purchase high-quality products for better experiences even though they cannot afford them, according to the online newspaper.

The time-saving and labour-saving products include shoes, washing machines, breakfast makers, and egg boilers, Taiwan News reported citing People`s Daily.