According to the latest Barclay's Skyscraper Index report:
China will complete 53% of the 124 skyscrapers under construction over the next six years, expanding the number of skyscrapers in Chinese cities by a staggering 87%. China’s skyscrapers are not only increasing in number – it now has 75 completed skyscrapers above 240m in height – but the average height of the skyscrapers that it is building is also increasing as past liquidity fuels the construction boom.
Here's Mark Thornton on skyscrapers and the business cycle:
Skyscrapers aren't in themselves an indication of a problem economy, but if the skyscrapers are being built when heavy money printing is taking place it is a signal that trouble is going to develop down the road
Further, the skyscraper boom can continue as long as more central bank created money is being pumped into the construction sector, but once that money slows, the bust follows. In China, the money printing hasn't stopped, but it has slowed big time. The crash is developing.