An international fair aimed at boosting the development of China's west opened Thursday in Chengdu, capital of southwestern province of Sichuan.

The 16th Western China International Fair drew about 9,000 companies from 91 countries and regions, as well as many domestic exhibitors.

Exhibitors will display advanced manufacturing products and new types of consumer goods. A series of activities will be held to bring business opportunities for provinces, regions and cities in west China.

On Thursday, a total of 116 contracts worth 131 billion yuan (19.4 billion U.S. dollars) were signed at the fair.

Germany is this year's guest of honor at the event. German Vice Chancellor Sigmar Gabriel said at the fair Thursday that Chinese investment in Germany has surged in recent years and the prospects are promising.

He raised the hope that China can continue to reduce restrictions on foreign investment and that companies from both countries can enjoy a fair competition environment in China.

The fair will conclude on Nov. 14.