A Skyscraper in Beijing was Auctioned For $ 734 million

A seized skyscraper in Beijing was auctioned for $ 734 million.

The impressive 40-story, modernist dragon-shaped building is located next to the Bird's Nest National Olympic Stadium in the Chinese capital.

The skyscraper has been announced for sale on the site of Chinese Internet giant Alibaba. Only two bids were submitted in 24 hours, but the auction was watched by nearly 150,000 users.

The new owner of the luxury building is a Beijing-based real estate company.

The skyscraper was seized by billionaire Guo Wang Wei, who fled exile after being accused of corruption in 2014.

The businessman now lives in New York and is one of the outspoken critics of the Communist regime in China and of President Xi Jinping, who is accused of falsifying allegations of fraud against his political opponents.