Injured people in New Year's stampede in Shanghai have been sent to hospital in the municipality on Wednesday. The accident has caused 35 deaths and 42 injuries. [Photo/IC]

SHANGHAI - At least 35 people were killed and 42 others were injured in a stampede at Shanghai's Bund area around midnight when huge crowds of revelers gathered to celebrate the New Year.

Thetragedy happened at 11:35 pm on the Chenyi Square of Huangpu District, around the Bund, a waterfront and most visited area in central Shanghai. 

Shanghai authorities are working actively to rescue and aid the wounded, said the official website of Information Office of Shanghai Municipality.  And the cause of the accident is still under investigation.

One week before the New Year, Shanghai authorities cancelled the city's annual New Year's eve 3D laser display, which attracted nearly 300,000 people last year, due to crowd control issues, CCTV news was quoted as saying.

A toned down version of the celebration was held at several locations in the city instead.