The first public space at the Bund in Shanghai was established along the Huangpu River by the former British Settlement in the late nineteenth century. At that time, it was the earliest waterfront space in China with a recreational role. Based on the Riparian Rights, 1845—1930: General, this article examines the origin of the Bund’s waterfront public space from the angle of urban planning, urban construction, and social negotiations, while drawing on Spiro Kostof’s concept of urban process. A driving force behind the establishment of public space along the river were the four-party negotiations on the “surrender to public use” of the newly acclaimed lands between the high and low water levels. Substantial social participation helped significantly to minimize the negative effects of short-sighted urban construction.