Zhoushan in East China's Zhejiang province signed a framework agreement on oil and gas trade cooperation with Hainan Fushan Group at the first China International Consumer Products Expo, which is being held in Haikou, Hainan province from May 7 to 10, Zhoushan Daily reported.

The project is expected to generate annual trade volume of 1 billion yuan ($155 million).

The Zhejiang Pavilion at the expo consists of three areas to introduce the province's overall local development, its independent brands, as well as key import companies with pictures, material objects, and videos.

One provincial import demonstration zone and four provincial import companies from Zhoushan are on display at the Zhejiang Pavilion: the Zhejiang International Agricultural Products Trade Center, Zhejiang Free Trade Zone Cross-border E-commerce Service Co, Zhejiang Zhoushan International Agricultural Products Trade Center Co, Zhejiang Petroleum and Chemical Co, as well as Zhejiang Ocean Family Co.

In addition, the Zhejiang delegation also organized a project matchmaking meeting for the China (Zhejiang) Pilot Free Trade Zone, which was attended by more than 60 international companies, including more than 10 Global Fortune 500 companies and 10 multinational investment advisory agencies.

With a total exhibition area of 80,000 square meters, the expo is expected to become the largest boutique exhibition in the Asia-Pacific. It is expected that the event will attract more than 20,000 professional buyers from outside Hainan, and over 200,000 visitors.