Caixin OnlineBusiness & IndustryTop Stories Industry 360Buy Follows Rivals into Internet Finance Business
12.12.2012 17:51

360Buy Follows Rivals into Internet Finance Business

E-commerce giant partners with banks so it can offer its suppliers a range of loans
By staff reporter Wang Shanshan

(Beijing) -- Chinese e-commerce giant 360Buy is moving to explore web-based financing business, a new potential growth area for Internet companies.

Alibaba Group and Suning Appliance Co. have already forged into the field.  

360Buy launched a financial service platform on November 27 to help suppliers get loans from partnered banks. 360Buy says it has signed a strategic partnership agreement with the Beijing branch of the Bank of China, which will provide financial support to the new platform.

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