LANZHOU — The 27th China Lanzhou Investment and Trade Fair held in Northwest China's Gansu province concluded on July 12 with significant rise in number and value of deals signed.

A total of 697 deals worth 390.92 billion yuan (about $60.39 billion) were inked during the five-day event, a rise of 18.7 percent and 43.2 percent year-on-year, respectively, organizers said.

The contracts were mostly in the areas of new energy and materials, chemical engineering, manufacturing equipment, modern agriculture, bio-pharmaceuticals, and culture and tourism, according to the organizing committee.

The event focused on deepening economic and trade cooperation and jointly building a green Silk Road, with exhibitions and conferences held both online and offline.

"The fair has further enhanced trade and economic exchanges and cooperation between Gansu province and countries and regions along the Belt and Road," said Zhang Yinghua, head of the provincial commerce department, at the closing ceremony of the event.

First held in 1993, the fair serves as a window for the opening of northwestern China and has become a major event for Belt and Road economic and trade cooperation.