Alliance Boots are to invest £56 million in 12 percent of Nanjing Pharmaceutical, one of the largest pharmaceutical giants in the country.

The planned investment comes after Boots entered into a joint venture with Chinese pharmaceutical company Guangzhou in 2008.

Stefano Pessina, the executive chairman of Alliance Boots, said: ”In 10 years, I hope we will be one of the major players in China or we will be, together with other companies, part of one of the major players in China."