[1] Construction began in 2003 and is scheduled to be completed in 2020,[needs update] with the German architecture company Gerkan, Marg and Partners leading the project.

The city is aimed to house 450,000 to 800,000 residents while attracting 10 million annual tourists.

[2][3] The site is located at the tip of the peninsula between the Yangtze and the Qiantang rivers on Hangzhou Bay.

However, despite real estate developments being sold quickly, people have been reluctant to move in.

[7][8] In August 2019, it was announced that the area will be included in the Shanghai Free-Trade Zone.