More than 70 contracts with a total estimated value of more than 120 billion yuan ($19 billion) will be signed during the 2nd China Marine Economy Investment Fair, which begins on Sept 15 in Ningbo, Zhejiang province.

The Zhejiang provincial government and the State Oceanic Administration will jointly host the three-day fair, which aims to exhibit the country's latest marine technology and boost the local marine economy.

It consists of three parts — a marine economy investment fair, a national ocean forum and an international exhibition of marine food products.

Aquatic product processing companies from Korea and Japan will attend the fair to seek business opportunities in China.

During the fair, people can see the most advanced marine technology achievements, including a full-scale mock-up of the Jiaolong submersible and the country's first deep-water drilling rig CNOOC 981.