The soon-to-be tallest skyscraper in China is bound to break records with its ultrafast lifts.

Dubbed as the second tallest structure in the world next to Dubai's Burj Khalifa, the skyscraper boasts of elevators that "shoot 119 floors in under a minute," the South China Morning Post reported.

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The Shanghai Tower, designed and created by state-owned Shanghai Construction Group and California-based Gensler, is standing at a 632 meter height above Lujiazui Central Business District in Pudong, Shanghai.

The project took more than seven years to complete its exterior alone and is estimated to be worth nearly 16 billion yuan ($2.5 billion).

Although the building is still undergoing some interior revamps, there are currently three elevators (out of the 154) available for visitors. Snatching the title as the world's fastest elevator at 18 meters per second, Shanghai Tower's lifts could shoot its passengers up to the 119th deck in just 55 seconds, the Liberation Daily newspaper reported.

"Even a coin can stand on its edge steadily inside the running lifts," the newspaper said. The skyscraper's elevators surpassed the Taipei 101 building, which holds the title for the world's fastest lift at 16.83 meters per second.

Shanghai Tower has 270 wind turbines 580 meters above the ground and can generate 1.2 gigawatt-hours of power.

Visitors may also enjoy the splendid view from the skyscraper's atrium where concerts will be held. It stands on the 125th and 126th floors with a capacity of up to 300 people.

Shanghai Tower's floor plans cover commercial spaces, public viewing area, hotels, and retail stores, among others.

Following the completion of the Shanghai Tower, Chicago's Willis Tower will be scrapped off the list of the world's top 10 tallest buildings. 

TagsShanghai, Shanghai Tower, skyscrapers, Shanghai Construction Group, Gensler, Lujiazui Central Business District, Burj Khalifa