Shanghai has always had high hopes, but now it is reaching for the skies with plans to build the world's largest Ferris wheel. The attraction will rotate more than 200 metres over the Bund waterfront in about three years' time, according to a report in the Shanghai Daily. The wheel will be bigger than the 135-metre diameter London Eye - which presently holds the record - and a 170-metre Ferris wheel planned for Moscow. 'It's an idea we have,' a spokesman from the Northern Bund Development Project unit under the government of the Hongkou district, where the Ferris wheel would be situated, told the South China Morning Post. 'We are still studying seriously the feasibility, taking into consideration all factors and variables such as surrounding commercial activities and architecture, as well as financing and so on,' he said. A more comprehensive plan would be available before the end of the year, he said. But some say the ultra-modern wheel will stick out like a sore thumb in one of Shanghai's historic districts. The Northern Bund development is part of the city government's ambitious plan to transform both sides of the Huangpu river within the next five to 10 years.