Cloud Computing, Internet Datacenters and Big Data Business Intelligence from China Teams With Jointown To Explore Chinese Internet Medicine Sales

Chinese B2C e-commerce website has reportedly invested in Beijing Haoyaoshi Pharmacy Chain Company, a subsidiary of Jointown Pharmaceutical Group Company Ltd.

As part of the investment, will formally enter the Chinese Internet pharmaceutical market and to provide consumers with online shopping of medical and health products.

After the investment, and Haoyaoshi will operate a joint venture. Jointown will be responsible for the procurement, storage, and distribution of medicines and medical equipment; while will support Jointown by selling these products via its B2C Internet platform. No financial details related to the investment has been released so far.

The Internet pharmaceutical market is reportedly an important strategic market for’s future development. According to statistics released by China Association of Pharmaceutical Commerce, in 2010, China’s pharmaceutical retail market scale reached CNY173.9 billion, a year-on-year increase of 17%. However, the Internet sales of pharmaceutical products were just about CNY100 million, in part because of stiff regulations concerning buying and selling drugs online.

Apart from the traditional 3C and digital products market, has now entered many other sectors, including daily commodities, audio-visual products, infant products, food, and women’s apparel. In 2010, the company says it gained sales of CNY10.2 billion, occupying 32.5% market share of the Chinese Internet retail market. It now allegedly has 20 million registered users across China; its daily processed orders are over 200,000; and its average daily page views are claimed to be over 45 million.

Be the first to comment on " Teams With Jointown To Explore Chinese Internet Medicine Sales"

Leave a comment

Your email address will not be published.


  Other China News

Nokia Phone Returns To China Via Exclusive Sales Channel

Artificial Intelligence Experts Join Sinovation Ventures

Apple's Struggles Drop Foxconn's Revenue 2.81% In 2016

Artificial Intelligence Guru Finds Search Engine Baidu


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

Hangzhou Promotes Local Products To Global Buyers

Who's Your Daddy? China's Daddybaby Protective Masks Certified by BSI

Barry Callebaut Group Brings Chocolate Academy To Shenzhen

Trina Solar Receives First IEC 62941:2019 Photovoltaic Certification