The existing Shanghai-Hangzhou line opened in 2010.

A 40-minute ride from Hangzhou to Shanghai's Pudong International Airport will soon be possible.
China's top economic planner has approved a 224-kilometer high-speed rail line between the two cities, with trains running at up to 350 kilometers per hour.
The route will start from Hangzhou West, pass through Jiaxing, and end at Shanghai East.Once completed, trips from Hangzhou Linping North to Pudong airport will take about 40 minutes, faster than any option today.
The existing Shanghai-Hangzhou line, which opened in 2010, already carries more than 100 trains a day but is often overcrowded, with peak-hour tickets selling out quickly.
The new line is expected to ease congestion and expand capacity along one of China's busiest corridors, strengthening links across the Yangtze River Delta region.

Source：上海日報SHINE