The conference "Luxury 2004: the Lure of Asia" was kicked off here Wednesday, with participants from the world luxury industry expressing their confidence in the Asia-Pacific region, and in China in particular.

The two-day conference, organized by the International Herald Tribune, has attracted important figures in the world fashion industry including UmBernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, Ferruccio Ferragamo, ceo of Salvatore Ferragamo, Christian Blanckaert, executive vice president of Hermes International.

Suzy Menkes, fashion editor of the paper who will also act as the moderator of the conference, noted that China is viewed as a promised land for the luxury industry.

Meanwhile, representatives from the world famous brands had a lot of discussions on China at the conference, expressing their confidence in the country with a fast economic growth and vast population.

Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa said at the opening of the conference that many of the world's best-known fashion names have established their Asian headquarters or Asian flagship stores in Hong Kong.

He noted that global retailers are increasingly using Hong Kong as their platform for developing brand recognition in this region, and especially for penetrating the biggest prize of all - that vast Chinese mainland market of 1.3 billion people.

Moreover, CEPA which is Hong Kong's free-trade arrangement with the Chinese mainland, will enable multi-national companies to use Hong Kong to gain faster and greater access to the mainland market.

It is the first time the fashion conference, the fourth of its kind, was held in Asia. The previous three were all held in Paris.