Online pharmacies are witnessing rapid development in China, thanks to a growing number of consumers choosing to buy medicines via internet platforms, experts said.
The acquisition would result in Zhejiang China Commodities City Group Co owning its first license for third-party payments.
The service, jointly launched by the Yiwu subsidiary of China Telecom and Huawei Technologies, was a response to the national call for promoting 5G and gigabit fiber-optic networks, as well as for expanding internet application scenarios.
The latest data from Yiwu authorities showed that the e-commerce transaction volume in the county-level city in Zhejiang province reached 71.9 billion yuan ($11.1 billion) in the first quarter of this year.
The China International Electronic Commerce Expo 2021 opened in Yiwu, East China's Zhejiang province, on April 11.
Some 1,055,298,000 express delivery parcels were transported between Yiwu and elsewhere over the period, up 171.1 percent from the previous year.
