At what stage in the execution process does the interpreter set initial values for a class in Python?

In Python, initial values for a class are set during the execution of the class body, that is, at the time of its definition (when the interpreter reads and executes the class code).

At this stage, a class object (type) is created, and all class attributes and methods are initialized. After that, the class becomes available for creating instances.

Example:

class MyClass:
    x = 10  # class attribute is initialized immediately upon definition

    def __init__(self):
        self.y = 20  # instance attribute is initialized when the object is created

Here, x gets its value immediately upon class definition, and y upon instance creation.