Shanghai will make the Global New Product Debut an annual event as the metropolis strives to build itself into a world-class shopping paradise.

The inaugural campaign, kicked off on Tuesday in central Shanghai's Jing'an district, saw the release of new beauty and skincare products from international cosmetics names like L'Oreal, Estee Lauder and Sisley.

An important pillar of the ongoing May 5 Shopping Festival, the campaign is expected to last one month and see over 100 new product launches from nearly 80 brands from home and abroad.

On the same occasion, the municipal government released a guideline for the assessment of the so-called 'product debut economy', which is gauged from three aspects. These are leading brands, new products of leading brands, and inaugural stores of leading brands.

The city introduced 986 new inaugural stores last year and hosted over 4,500 campaigns for new product launches, which were both leading achievements nationwide.