What is perhaps most startling about the building - dubbed the Hanging Village of Huaxi - is that it is in a village with just 2,000 officially registered inhabitants.
Reaching 328 metres (1,076ft) into the sky in Huaxi, Jiangsu province, East China, its closest rival is 600 miles away in Beijing and it is 18 metres taller than the Shard will be when it opens in Central London next year.
The newly-opened skyscraper in Huaxi Village, Jiangsu province, dwarfs the surrounding buildings
A solid gold ox greets costing an estimated ?31m greets people on the 60th floor of the 328m tower
Striking resemblance? The tower has been likened to a trophy such as that of the Fifa World Club Championship
Construction workers attended the inauguration ceremony of the skyscraper which opened on Saturday
the latest tower to be built there is 52 storeys higher than its closest rival in Huaxi and has enough capacity to fit the entire population of the village.
Height: 328 metres (1,076 feet). The height was chosen because 32 is significant in business and eight signals prosperity
Cost: 3bn Yuan (?301m)
Rooms: 800 suites for 2,000 people
Special features: A massive glass sphere on top and a ?31m golden ox on the 60th floor
Location: Huaxi, Jiangsu province, East China
It ranks as the 15th-highest skyscraper in the world, standing taller than Paris's Eiffel Tower (324m) and the Chrysler Building (319m) in New York.
It has taken four years for the work to be finished on the 74-storey hotel and residential block at a cost of 3billion yuan (?301m).
Some have compared the building as looking like a trophy because at the top there is a huge sphere made out of glass while others wonder if it is sustainable in such a place as Huaxi.
Money for the project partly came from people in the village - which celebrated its 50th anniversary the day the building was opened - who gave shares of 10million Yuan each, the China News Service said.
Zhou Li, deputy party chief of the village, said: 'The building is a symbol of collectivism.'
There are 800 suites in the structure and it can hold around 2,000 people. There is an exhibition hall, a revolving restaurant and rooftop swimming pools and gardens.
On the 60th floor there's not just an amazing view to be enjoyed but there is also an ox that has been crafted from a tonne of gold.
From the top: The glass sphere atop the structure is open to the public
The 1,500-seater restaurant is complete with an elaborate stage and screen
A huge banquet was held to mark the opening. The building can cater for 2,000 people - the same number as there were villagers in Huaxi before massive expansion
The entrance foyer has an incredible chandelier while down one wall is a mural depicting the tower and its surroundings
The mural exaggerates the height of the pagodas next to it which are actually only 15 storeys high compared to the skyscraper's 72 storeys
Officials in the village are keen to capitalise on new-found wealth with helicopter rides being among the latest additions to the area to try and attract tourists
One of the main purposes of the skyscraper is to relieve pressure on the village which has limited land resources and is actually ballooning in size.
There were originally 2,000 inhabitants in Huaxi but then it grew and started to swallow up some of the neighbouring areas and now there is a lot of migration to the area.
It is also hoped that, despite it being the richest village in China, it will help raise the living standards of people of Huaxi.
The village has moved on significantly over the last 30 years going from a poor farming community to a flourishing place of enterprise and a symbol of the country's economic growth.
All in a day's work: A construction worker (in his blue uniform) stands behind a boy and takes photos of the project that he had a hand in creating
The building took four years to building and cost more than ?300m to build
The village now attracts businesses interested in shipping, steel, tobacco and textiles.
However, not everybody in the village has profited from the expansion. While the original people who lived there have made money, those in villages surrounding villages that Huaxi has swallowed fair less well while those who have moved there live on an average of $10 a day.
The 2,000 people who first lived their have enjoyed the fruits of living in Huaxi. Each family has made at least $250,000 from huge building plans and they enjoy universal health care and free education.
Referring to two helicopters bought by the village for sightseers, Zhou Li said: 'The air flight project and our new skyscraper are our ways to improve the quality of tourism.'
A worker stands ready to greet people to one of the extravagant meeting rooms in the skyscraper
A guest arrives at the opening ceremony of the 'Hanging Village of Huaxi' which marks China's growth
Even when it is finished, the Shard in central London - the tallest residential tower in Europe - will be shorter than the new Huaxi tower