UK's Topshop aims for Chinese shoppers as it opens first outlet in high-rent Hong Kong

British fashion chain Topshop is opening its first Hong Kong outlet, becoming the latest Western brand to brave the city's high rents in a bid to crack the lucrative China market.

The retailer will open the doors on Thursday afternoon to a 1,300 square meter (14,000 square foot) shop in the city's central business district.

Topshop boss Philip Green says he wants to use the store as a "stepping stone" to mainland China. He's looking for possible locations in Beijing and Shanghai to open "flagship" stores.

Other foreign retailers that have launched in the Asian finance center recently include U.S. brands Abercrombie & Fitch, Tommy Bahama and Forever 21.

Hong Kong is a popular shopping destination for mainland Chinese because of low taxes and a reputation for authentic goods.