A rendering of Zhongjun World City in Zhangjiagang Free Trade Zone [Photo/WeChat account: zjgcitynews]

Construction started on Zhongjun World City, a commercial and residential complex, in the Zhangjiagang Free Trade Zone on March 31.

The project will cover a floor area of 325,000 square meters and cost about 3.5 billion yuan ($493.85 million) to build. It is expected to be a new landmark in the zone upon completion.

The complex is located east of Zhonggang Road, north of Zhenshan Road, west of Bolin Road and north of Chongzhen Road and consists of two areas - one for commerce and one for residence.

The commercial area will feature a four-floor shopping mall, a 24-hour commercial street and a 7,000-sq-m underground supermarket. It is expected to start operations during the New Year holiday in 2021.

The residential area is designed in new classic style and consists of 12 buildings with 2,310 apartments, which will be built in two phases.

Officials said the complex will set an example for the transformation and upgrading of the commerce sector in the free trade zone and significantly improve living standards for locals.