Local media has reported the woman was unharmed after being grabbed by care worker Guo Zhongfan while leanign out of a window ledge on the building's seventh floor.
It is believed the incident was sparked by her boyfriend of four years breaking up with her just as they were making plans to get married.
The woman - who reportedly lives in the building - was dragged back inside by Mr Guo as well as several other people, some who broke windows in order to reach her more easily.
She was taken to hospital but had no serious injuries.
Reuters reported that crowds on the street cheered Mr Guo for his role in the rescue.
"I did what anyone would have done," he said.
These amazing pictures and video reveal the dramatic moments as workers on several floors do their best to drag the young woman back to safety.