Chinese B2C e-commerce website 360buy.com has announced plans to offer interest-free housing and car loans to employees, and the total amount available will reach several hundred million Renminbi.

The loans reportedly target employees who worked for 360buy.com for at least three years and those who own stock in the company.

A representative from 360buy.com told local media that this program aims to reward employees' contributions to the company, and help them realize happiness in both work and life. The representative also said that 360buy.com believes staff are the greatest treasure and the core competitiveness of the company. They will continuously provide competitive salaries and rewards as well as training to support the career development of the employees.

So far, several Chinese Internet companies, including Tencent, Alibaba, Renren.com, and Giant Interactive Group, have launched employee interest-free loan programs.