where do you think these economists get there numbers?. its almost like they get them from the Chinese government. its like giving yourself good grades. that's why there are these round about ways to try and find out what the real numbers are because you know dictatorships are not that transparent about how they get there numbers.
they overbuild all infrastructure not just property that's just one big example these firms could only do this because the Chinese government incentivized it with cheap loans that's why these firms could even get these big debs in the first place. the bubble only burst once they put in rules to stop them from creating so much debt. the property marked became the stock market because the Chinese stock marked was so volatile that was the incentive to speculate for normal people.