A record high of nearly 4,000 exhibitors from around the globe gathered at the Hong Kong Convention and Exhibition Center on Monday for the world largest gift fair, which is scheduled to last until May 1.

The fair features a wide range of products, including fashion jewelry and accessories, watches and clocks, consumer electronics, silverware, ceramic gifts, paper and packaging, travel goods, gifts for women and children, corporate and advertising gifts and Christmas decorations.

"Hong Kong is known worldwide as an important sourcing center for giftware," said Raymond Yip, assistant executive director of the Hong Kong Trade Development Council (HKTDC), which co-organized the event with Hong Kong Exporters' Association.

"A wide spectrum of gift items can be sourced here, ranging from economical items to sophisticated, high-value merchandise," he said, adding that the news from the gift industry was "encouraging" despite the global economic downturn.

Aside from the record-high number of exhibitors, the gift fair also set a record in exhibition space.

As the 24th of its kind ever held in Hong Kong, this year's fair has expanded to more than 78,000 square meters, featuring more than 4,200 booths, Yip noted.

Speaking at the opening ceremony, Hong Kong's Financial Secretary John Tsang said the government will do more to promote Hong Kong as an international convention, exhibition and tourism capital.

"The fair is a great example of what can be achieved when you have exhibitors with the best and newest products and buyers who are serious about doing the right deal," said Tsang.