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Large Medium SmallYhd.com, a Chinese online supermarket controlled by Wal-Mart Stores Inc, announced on Tuesday that it has gained approval to run its e-commerce business in Shanghai Free Trade Zone.
Yu Gang, chairman of yhd.com, said that with the approval, the company's imported food business is expected to be on a faster track.
“Yhd.com will benefit from the policies in Shanghai free trade zone, which are expected to boost the company's imported products business and cut down on the costs of doing cross-border business,” Yu said.
He added that the move may even help the company further its plan in cross-border e-commerce business.
Yhd.com sells more than 18,000 types of imported products on its website, 78 percent of which are imported foods, ranging from milk to wines and candies.
According to the company, its sales of imported food rose almost fivefold in 2012 over the previous year. Growth of sales in this sector outperformed Yhd.com's overall sales growth in 2012.
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