Ferrari's new eight-cylinder coupe, the 458 Spider, had its China debut at the Guangzhou auto show last week.

The latest addition to the Ferrari range is a mid-engine two-seater featuring a fully retractable aluminum hardtop, the world's first for a mid-engine sports car.

Its 4.5-liter direct injection V8 was named the 2011 International Engine of the Year by a multinational panel of judges organized by a respected UK car industry media group.

The 458 Spider can accelerate from to 100 km/h in just 3.4 seconds and can reach a top speed of 320 km/h.

Its hardtop is actually 25 kg lighter than a traditional folding softtop and provides better soundproofing. It takes just 14 seconds to open or close and takes up small space when stored, leaving room for an ample rear bench for luggage.

China is now Ferrari's second-largest market in the world. This year marks the 20th anniversary of the brand's entry into the market.