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(Yicai Global) Aug. 6 -- A unit of Kaibao Pharmaceutical, which is known for making traditional Chinese medicines, will launch online sales of a series of new cosmetics and other health products this year to broaden its channels for revenue.
Kaibao Health Technology signed a cooperation agreement with e-commerce firm Jing Shang Yan on Aug. 3 to sell its products such as toothpaste based on Chinese medicine, as well as oral fresheners, and healthy foods on the latter's online platform, the Shanghai-based pharmaceutical company said in a statement.
The value of China's health service sector will reach CNY8 trillion (USD1.17 trillion) by 2020, while posing a huge market potential, Kaibao Health said.
Founded in 2000, Kaibao Pharma develops, produces, and sells Chinese medicines mostly domestically.
Editor: Emmi Laine