At the two-day event, a team led by Liu Renhuai, an academician at the Chinese Academy of Engineering displayed its technology for tackling disposal and treatment of kitchen waste. It's a type of yeast, capable of degrading and utilizing kitchen waste to produce ethanol, biodiesel and other high-value added products, leaving no harmful materials to the environment.

The 2017 China Innovation and Entrepreneurship Fair gets underway in Guangzhou on May 26, attracting more than 700 exhibitors from home and abroad. [Photo by Zhao Qingjian/tech.gmw.cn]

China Western Power Industrial Co sighted the potential and signed an agreement with the team, with an estimated value of 30 million yuan ($4.37 million).

The fair also set special areas for countries and regions along the Belt and Road, as well as the Guangdong-Hong Kong-Macao Greater Bay Area region, drawing some 89 projects from Russia, Ukraine, Belarus, the UK, Australia and Singapore, to seek cooperative opportunities in the host city.

This year's fair is expected to see an increase in both the number of agreements inked and letters of intent, according to one insider.