The building of five new towns in Shanghai's suburbs, deemed key to the city's future social and economic growth, is set to create new business opportunities for both domestic and overseas investors.

In late January, Shanghai unveiled its plan to build the new towns in five suburbs, part of the city government's efforts to optimize the development layout and create new engines for future growth.

Circling out from the central area of urban Shanghai from northwest to southeast, the five suburbs are Jiading, Qingpu, Songjiang, Fengxian and the Nanhui region in Pudong New Area.

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