Walt Disney Co. officially opened its new Hong Kong theme park on Monday, exporting a piece of the Magic Kingdom to China's doorstep in a bold bid to gain a bigger foothold in the vast Chinese market.

Both the company and the government have high hopes resting on the success of the park, Disney's first in China and its second in Asia after Japan.

Disney is clearly hoping that millions of Chinese visitors to the park will bring home a taste for its products, from mouse-ear caps and stuffed toys to DVDs.

The park is also expected to give a major boost to Hong Kong's economy, creating tens of thousands of much-needed jobs and generating $19 billion in revenue at the venue over 40 years.