Chinese pharmaceutical companies and government officials are set to pay a three-day visit to Australia next month to close as many deals as possible.

According to China Medical Pharmaceutical Material Association's chairman Ma Shoujun, contract signing will follow after an expo at the Pullman Hotel late in June.

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"This is not like the way Chinese delegations are traditionally done - come here, have a look, talk, and then nothing happens," Ma said, according to Sydney Morning Herald. "This time something will happen, contracts will be signed - business to business. And the business will be ongoing. We want to form partnerships."

China Medical Pharmeceutical Material Association is comprised of 240,000 pharmaceutical outlets; these are the key players in China's health sector, which estimated to be worth $1.6 trillion.

The pharmacy owners are all looking for potential source products such as vitamins, infant formula and health drinks. They also plans to adopt a similar system to Chemist Warehouse, where most of their commodities are not sold via a dispensary.

Ma is looking to switch China's system where only 30 percent of its pharmaceutical products are sold over the counter, while the rest are through dispensary.

"The health industry is a huge market for China, worth 8000 billion yuan, so that the big opportunity for us to share part of the pie [with Australia]," he said. "The Australian products are reliable, good products and they [Chinese pharmaceutical entrepreneurs] feel comfortable with them."

China has benefited from the Sino-Australia free trade agreement inked last year, which is gradually cutting off the 10 percent tariffs added on pharmaceutical goods by 2019.

The association is also looking to promote traditional Chinese medicines and equipment. "It will be two way trade, both buying and selling to and from China," Ma said.

Tagschina, pharmaceutical company, Australia, Healthcare Industry