China's Largest Medicine Distribution, Trading Center under Construction

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Last updated at: (Beijing Time) Wednesday, November 06, 2002

China's Largest Medicine Distribution, Trading Center under Construction

Construction on the Heping Medicine Distribution and Trading Center, said to be the largest in China, began Tuesday in Chengdu.

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Construction on the Heping Medicine Distribution and Trading Center, said to be the largest in China, began Tuesday in Chengdu.

Sichuan Dikang Industrial Share-holding Co., Ltd. and Chongqing Medicines Share-holding Co., Ltd. will jointly invest 400 million yuan (48.3 million US dollars) into the project, located at Wukuaishi in Chengdu, capital of southwest China's Sichuan Province.

Covering about 13 hectares and with a floor space of more than 50,000 square meters, the center, whose name means "peace", will be used as a venue for medicine distribution, trading and exhibitions. The project is scheduled to be completed before April next year.

The center's annual transaction volume of medicine will be morethan 2 billion yuan (241 million US dollars), project investors predicted.

Sichuan Dikang Industrial Share-holding Co., Ltd is formed by several listed companies and dozens of subsidiaries, with its operating funds reaching billions of yuan. Heping (Peace) Chain Drug-store Co., Ltd., a subsidiary of Chongqing Medicines Share-holding Co., Ltd., boasts 645 chain stores through out China. The company's sales volume for 2001 was 560 million yuan (67.7 million US dollars), ranking first in China.

Experts predict that medicine retail sales in China is expected to grow by an average of 15 percent annually over the next five years, with the annual retail sales volume hitting 60 billion yuan (7.2 billion US dollars) by the year 2005.

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