Drupal autocreate custom content type on registration

I have created a new content type for storing additional user data (outside of the standard profile) page. This content type is only viewable by the user and the admin.

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What I would like is that when a user registers this custom content type is automatically created for them so they can then populate it. How can this be achieved?

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Rules module - module allows site administrators to define conditionally executed actions based on occurring events. So there's condition = user register, action - create content.