Starting on Tuesday, the 24th China International Industry Fair (CIIF) kicked off its five-day exhibition, becoming an important stage of exhibiting the latest achievements of new industrialization and promoting extensive cooperation among enterprises.

Some 2,600 exhibitors from 28 countries and regions are projected to take part in the event themed as "New Industrialization Advanced Productivity" this year.

To give full play to the platform of the CIIE as well as to seize opportunities in large equipment upgrades and facility renewal, an investment collaborative promotion conference was held on Tuesday attended by more than 80 enterprises, according to its organizer.

"The renewal of large-scale equipment and consumer product trade-in is in line with the nation's high-quality development," said Ge Dongbo, deputy director of the Shanghai Commission of Economy and Informatization at the promotion conference.

As the largest economic hub in China, Shanghai has complete manufacturing industries, strong industrial foundation, integrated innovative elements and high level of opening-up, said Ge.

"Shanghai's new industrialization towards high-end, intelligent, green and integration is presenting sufficient opportunities for large equipment upgrade," said Ge, adding that Shanghai will support its enterprises' digitalization, intelligent transformation, green upgrading to better meet market demands in the future.

Facility investment in Shanghai's industrial enterprises with annual revenues of 20 million yuan ($2.85 million) are projected to reach 400 billion yuan by 2027, up more than 45 percent from that of 2023, according to the Shanghai Commission of Economy and Informatization.

Taking up an exhibition area of 280,000 square meters, this year's event consists of nine themed professional exhibitions, including industrial automation; smart energy; new energy; and intelligent connected vehicles, robots, new material and technology innovations.