The comparison should be taken with extreme caution. In reality, comparing a Gross Domestic Product with assets has no meaning from an economic point of view. But the calculations made by the China Economic Weekly, reported by Les Echos, are symbolically impressive and give a good idea of an ever-growing real estate bubble.
The Chinese newspaper reports that during the first half of 2013, land was sold in Beijing for 8 million square meters and for a value of 66,4 billion yuan, at over 8 yuan per square metre. This means that if all the lots in the capital were sold, their total value would be 134 trillion yuan. In other words, 21887 billion dollars. For the record, US GDP is around $16 trillion.
