The 12th China International Petroleum and Petrochemical Technology and Equipment Exhibition (CIPPE), the world's largest one of its kind, kicked off Monday in Beijing, attracting 1,500 enterprises.

The three-day event, covering 80,000 square meters of floor space, has attracted petroleum and petrochemical enterprises from 62 countries and regions including the United States, Germany and Russia, with 50,000 visitors expected to attend.

With a theme of "Innovation and Participation," a concurrent forum will take place under one roof for professionals from oil and chemical engineering-related Chinese government bodies, China's three oil companies, international oil companies and industry associations, equipment manufacturers, oilfield service companies and engineering firms.

They will discuss economic development in future China and market opportunities in the country's changing business environment.

The CIPPE involves two annual sessions: one in Beijing in March, the second in Shanghai in August.