Projects worth 100b yuan for Qingpu New City

More than 40 projects with an estimated investment of over 100 billion yuan (US$15.7 billion) were signed in Qingpu New City on Friday to further fuel its development. 

Among the 43 projects, 10 involve regional headquarters economy, 12 of the digital economy and smart logistics and 13 of the development and construction of the "new city" and investment consultation. The rest are related to hydrogen energy and electronic information. 

The Qingpu District government signed cooperation agreements with 22 enterprises and working units such as Fudan University and the Yangtze River Delta Region Investment (Shanghai) Co Ltd, which will pool resources and boost the development of Qingpu New City. 

A digital economy belt along G50 expressway will be built in the district and coordination and cooperation between the district and cities in the Yangtze River Delta region will be strengthened, said Zhao Huiqin, Qingpu's Party secretary.

The 91-square-kilometer "new city" aims to have 550,000 permanent residents by 2025, and 650,000 by 2035.

Shanghai unveiled its plan to develop five "new cities" in Jiading, Qingpu, Songjiang, Fengxian and Nanhui in late January as part of the city government's effort to seek new engines for future economic and social growth.

Under an earlier blueprint, the five differently positioned "new cities" will be developed into modern, ecologically friendly, convenient and vibrant places where urban life and industrial development are well integrated.