Chinese online auction website Taobao.com has announced it will join forces with Zhejiang Provincial Department for Industry and Commerce to implement a pilot market access mechanism for the procurement of health food.
The parties will take four measures to build a regulation mechanism for the online release of healthcare products, including, regulating existing health foods, suspending the release of health food information for one month, and requiring that all health foods to have a nationally approved number before they can be released to the market.
In addition, Taobao.com will ask all health food suppliers to abide by its product release management rule and other related rules and regulations and the company says that it will work closely with the Department for Industry and Commerce and the Health Department to ensure all information about health food is correctly published.
Taobao is reported to have stated that this move makes it the first company in the world to do so.
