Baisha
Concept art and photos: http://imgur.com/a/Urtpj
Yu Suzuki said: Baisha will show off what Shenmue is all about. Live out a siege game reminiscent of the Warring kingdoms. See what strategist will come out on top.
May possibly feature an 'infiltration mission' into the Chi You Men's Guilin branch. The buildings shown in the concept art are called Tulous. They are between three and five stories high, can house up to 80 families and are easily defensible.
Choubu
Concept art and photos: http://imgur.com/a/eU3uV
Yu Suzuki said: Choubu is a riverside village with lots of shops, souvenir stores, hotels and temples. The quests in this village should be very enjoyable, I think.
And: Amidst the mystical scenery of the Li River, Choubu lies in a water colour painting come to life. The port of call will be filled with souvenir shops and hotels, shrines and village dwellings. Expect to meet a sage master of Nanquan there.
This area may feature the 'Magic Maze' technique of generating building interiors. It could also feature a part time job of some sort.
Bailu
Concept art and photos: http://imgur.com/a/YBRqA
Yu Suzuki said: Bailu is the village where Shenhua was raised and also a place that Ryo's father, Iwao, had visited when he was younger. Here as well the quests will play an important role as Ryo and Shenhua start their journey.
And: Shenmue 2 ends at Shenhua's house in the outskirts of Bailu village. Bailu village is waiting to be explored for real.
Have I missed any information?