Apr. 8, 2009 (China Knowledge) - 360buy.com, a Chinese retail e-commerce business company, yesterday announced that it established a logistics subsidiary in Shanghai to improve distribution quality and efficiency, sources reported.

360buy.com invested RMB 20 million in the logistics subsidiary, which will distribute orders in eastern China and Shanghai, areas that account for 40% of the company's total orders.

To enhance its distribution network, which covers 200 Chinese cities, the company is also building 20 distribution stations in cities such as Tianjin, Wuhan, Jinan, Xian and Chongqing.

In February, 360buy.com received fund injections of US$21 million from Capital Today Group, Bull Capital Partners and a private company of Francis Leung, a famous investment banker in Asia. and the company promised to use 70% of the funds to improve logistics.