Hangzhou Bay Sunac Tourism City
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From the looks of the concept art and the information on the Six Flags site about the location I think it is this piece of land on Google Earth. The shape of the coastline and the building work that is already to the top left of the park looks right and it matches with the (not very precise) location on their website.

Google Earth Coastline and potential park location

Source: Google Earth

Location as shown on Six Flags Park website

Source: https://content.sixflags.com/haiyan/about-the-park/

Concept Art from Six Flags website showing coastline and road layout

Source: https://content.sixflags.com/haiyan/about-the-park/

Some pics from the groundbreaking:




I got this from the link below:
https://content.sixflags.com/haiyan/ground-breaking-ceremony/

We have the ground breaking ceremony in this website:
https://content.sixflags.com/haiyan/ground-breaking-ceremony/

It's on the Six Flags site, as well, now:
https://content.sixflags.com/haiyan/about-the-park/

I believe its somewhere along this section of coast.

https://www.google.co.uk/maps/@30.527094,121.0202331,19932m/data=!3m1!1e3?hl=en-GB

no exact point yet though.

Can someone pinpoint the location on a map? Is it far from Shanghai?

...and here is concept art for the Six Flags China park:





You can find more here:
http://www.lvcgroup.com/content/details27_34.html

Found on the Chinese internet. Here are more photographs from the announcement ceremony:





http://www.xinhuanet.com/house/bj/zt/shanshuilq928/

Going ahead:

Yesterday, we signed an MOU with the provincial government of Zhejiang to develop the first Zhejiang Riverside Six Flags international Resort in Haiyan County.

Source: LinkedIn
Haiyan is close to Shanghai