JINAN - China's exhibition economy is developing at a dynamic pace with the direct economic output expected to hit 600 billion yuan ($92 billion) in 2017.

According to a report released at the ongoing 14th China Expo Forum for International Cooperation, China held more than 4,000 exhibitions last year, with the exhibition area reaching 134 million square meters.

Of those exhibitions, 98 percent were trade shows.

The report also noted about 100 Chinese exhibition organizers held more than 1,540 exhibitions in 70 countries in 2017, an increase of 3.82 percent year-on-year.

A total of 88 exhibition organizers held 628 expos in 33 countries along the route of the Belt and Road Initiative, up 4.3 percent year-on-year.

The direct economic output of China's exhibition economy is expected to reach 600 billion yuan in 2017, said Wang Jinzhen, vice chairman of China Council for the Promotion of International Trade, at the forum held from Thursday to Saturday.

"The exhibition industry is an important platform for the establishment of the modern market system and an open economy," said Wang.