Shanghai Fosun Pharma's booth is pictured at an expo in Nanjing, East China's Jiangsu province, Sept 11, 2015. [Photo/VCG]

Chinese pharmaceutical giant Shanghai Fosun Pharma plans to invest 750m yuan ($10.59 million) into the construction of a 12.29-hectare medical logistics hub in the Hefei National High-tech Industrial Development Zone.

The hub is expected to fill a gap in medical cold chain logistics in Hefei and inject new momentum into the development of the city's healthcare industry.

The hub will allow both online and offline businesses to expand throughout East and Central China.

Representatives from both the company and the zone reached an agreement on the investment project on March 30 via video conference.

Lin Lin, president of the company, said with the support of the zone's government, construction on the hub will soon begin and it will begin operating in the near future.

Song Daojun, director of the management committee of the zone, said it has been striving to promote the high-quality development of the healthcare industry, one of its key industries, for a number of years and it is now home to 260 enterprises engaged in the industry.

Song said the zone will continue to improve its business environment and will work to provide quick and efficient services to help Fosun develop its operations there.