(Yicai Global) Aug. 13--Chinesee-commercecolossusJD.Com will join with Zhejiang Zhenyuan Pharmaceuticalto buildaleading regional smart pharmaceutical logistics and warehousing center in Zhejiang province insoutheastern China.

The two recently signed acorrespondingpartnership framework agreement, Zhejiang Zhenyuanannounced.

The parties will set upthejoint ventureforJD.Com'swarehousein the southeasterneconomic powerhouse province using the logistics assets of Zhejiang Zhenyuan.JD.Com will completeitsdue diligence and capital injection within six monthstobecome the controlling shareholderin the JV,perthe announcement.

JD.Com willalsohelp Zhejiang Zhenyuan scale up its warehousingandlogistics,business-to-business,business-to-consumerandonline-to-offlinecapacityby leveraging its e-commerce management technologies.

Thepartners willfurthercollaborateincommercial logistics based on value supply chain projectsandwill operatewithindependent cost accounting and revenue sharing, the announcementstated.

Theirpartnership will combine the geographical advantages of Zhejiang Zhenyuan with Beijing-headquartered JD.Com's smart logistics technologies, integratetheirexisting warehousing, transport and distribution resources,andundertake third-party pharma logistics services, the announcementsaid.

JD.Com has graduallyscaled upitsefforts in thisfieldin recent years, and this year plans to build smartdistributioncentersfor medicationsin seven major regions of China, including Beijing, Shaanxi, Jiangsu and Guangdongin addition to Zhejiang, the announcementrelated.

Editor: Ben Armour