Traditional Chinese medicine company Beijing Tongrentang Group signed an agreement to buy a 50 percent stake in Yaokang International (Fumingtang Chinese Medical Center) on June 12.

A chain store of Beijing Tongrentang Group in Xuchang city,Central China's Henan province. [Photo/Asianewsphoto]

The two parties will work together to expand the traditional Chinese medicine market in Hong Kong. They plan to set up a Chinese medical center, which will offer comprehensive healthcare services such as traditional Chinese medicine, acupuncture and massage.

"This action will help us to expand our business scope and scale in Hong Kong. Meanwhile, Tongrentang and Fumingtang can learn from each other and cooperate on the search for a better operations mode for chain clinics," said Ding Yongling, deputy general manager of Tongrentang.