Shanghai will build a new city to the northeast of the downtown
area to make it part its international shipping center.
Covering an area of 300 square kilometers and accommodating
800,000 people, the new city consists of one central city, nine new
cities, 60 new towns and 600 villages, deputy mayor Yang Xiong
said.
The new city, named "Lin Gang Xin Cheng," is situated on the
Hangzhou Bay, which is about 32 km from Yangshan deepwater
port.
Construction of the city will cost 36 billion yuan (US$4.5
billion). The new city is scheduled to take shape in 2010.
A man-made lake covering 5.6 square kilometers will be located
in the center of the city. It will be surrounded by residential
areas and industrial parks.
The new city aims to develop heavy equipment, logistics and
storage industries, and investors across the world have shown great
interest, according to the deputy mayor.
Shanghai plans to build itself into an international center of
economy, finance, commerce and transportation by 2020.
(Xinhua News Agency April 2, 2006)