360Buy Follows Rivals into Internet Finance Business
(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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