The Eighth Economic and Trade Fair, involving China, Russia and Mongolia, will see signed contracts worth nearly 4 billion yuan ($625 million), involving 14 projects, organizers of the event said. The 10-day fair, in Hailar, Inner Mongolia autonomous region, was opened on Monday.

The annual event, which started in 2005, attracts about 450 domestic and foreign companies. Hailar, with a population of 350,000 people, is an important trade and communication hub.