Guangzhou Baiyunshan plans private placement to augment funds

Guangzhou Baiyunshan Pharmaceutical Holdings Co, a Hong Kong-and Shanghai-listed company, signed a strategic agreement with Alibaba Health Information Technology Ltd on Tuesday to support its online sales, officials at the pharmaceutical company said.

"The agreement is aimed at establishing online-to-offline market integration for Baiyunshan's medical products. Both sides will also explore opportunities to jointly boost medical services and the wider health industry," said Li Chuyuan, president of Guangzhou Baiyunshan.