Chinese B2C e-commerce website 360buy.com plans to set up a third-party open platform to improve its services.

According to reports in local media, the company is reportedly preparing for this new project and a new team for the development of this project has been established, led by Liu Shuang, strategic assistant president of 360buy.com.

An insider revealed to the local media that 360buy.com's new third-party platform aims to open its e-commerce order fulfillment capabilities to serve more third-party vendors. On the other hand, it will be used to cope with competition from other e-commerce operators in China.

Xu Lei, vice president of 360buy.com, also confirmed that the company is currently discussing matters related to the third-party platform. However, Xu said this is a long-term project and no detailed plan is yet available.

At present, 360buy.com mainly focuses on the sales of electronic products and it has already introduced commodities into its website. Though the ratio of these commodities is small, it helps 360buy.com accumulate operating experience for the opening of the third-party platform.