HANGZHOU - The first edition of China's low-altitude economy expo has unveiled cutting-edge tech innovations and demonstrated new directions for industry development.

Held by the China Air Transport Association in Shaoxing, East China's Zhejiang province, from Saturday to Monday, the exhibition showcased over 500 drones, electric vertical takeoff and landing (eVTOL) aircraft and helicopters, according to the association.

The low-altitude economy is an economic concept that relies on low-altitude airspace, involving low-altitude flight, air tourism, passenger transportation, general aviation services, and scientific research and education.

Among the new products and technologies displayed at the expo, a tethered drone drew attention. Due to its ability to hover for a long period of time, the drone, powered by a hundred-meter-long tethered cable, has the potential to be used in emergency communication, lighting and traffic assistance.

According to its developer, the product has achieved a maximum tethered height of about 300 meters and a maximum endurance of 24 hours, and can operate stably under special conditions, such as 4,000 meters above sea level and strong winds.

"With the rapid development of drones, BeiDou Navigation Satellite System, 5G communication and artificial intelligence technologies, China's low-altitude economy has entered a new phase of widespread application," said Xiang Jinwu, an academician with the Chinese Academy of Engineering at the expo.

The size of China's low-altitude economy as of the end of last year was estimated at more than 500 billion yuan ($69.52 billion), with its scale expected to rise to 2 trillion yuan by 2030, according to the Civil Aviation Administration of China.