On August 31, 2002, Kaixinren Pharmacy was officially established in Nanchang, China. At its opening, Kaixinren Pharmacy adopted a self-selection and hypermarket model, and大幅降低药价 by 45% below the state-approved price, thus triggering a nationwide drug price reduction storm. Media across the country rushed to report it, creating a pharmaceutical retail miracle of "buying medicine with baskets" and "queuing up to buy medicine," and it once became a weather vane for China's pharmaceutical reform. It has successively won honorary titles such as "Citizen-Satisfied Pharmacy," "China Top Ten Pharmaceutical Storm Enterprises," "China Top Five Most Enterprising Enterprises," "China Top Ten Pharmaceutical Marketing Events," "China Top Ten Pharmaceutical Chain Enterprises," "China AAA Credit Pharmacy," and "Olympic Humanistic Pharmacy." Kaixinren's deeds have been recorded in China's pharmaceutical history (yearbook) and have been published by more than 300 authoritative domestic media outlets, and received written instructions of support from then Vice Premier Li Lanqing. Over the past eight years, Kaixinren has developed into a group holding joint-stock company with a modern corporate governance mechanism. The registered trademark "Kaixinren Pharmacy" has been legally recognized as a Jiangxi Province Famous Trademark and a China Famous Trademark.
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