The 2nd China (Shanghai) Industrial Products Online Trade Festival will kick off on April 28 and run to June 30 – an event widely seen as important for Shanghai city in East China to further promote the development of its new online economy.

The festival will launch a series of industrial chain and supply chain digital services and digital transformation tools, for upstream and downstream manufacturing enterprises around the country.

More than 200 live broadcasts will be held and the estimated transaction volume of the festival is projected at 20 billion yuan ($3.08 billion), representing year-on-year growth of 65 percent.

According to officials, the festival will work with 45 domestic leading industrial e-commerce companies to jointly create various digital tools for centralized purchasing, intelligent marketing, channel distributions and storage and logistics.

To top it off, during the two-month event, the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone will stage new product releases for its pillar industries including high-end equipment, biomedicines and smart manufacturing.