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360Buy faces new pressure as Taobao Mall consolidates its lead

21 September 2011

Business-to-consumer ecommerce site 360Buy, was dealt a blow this week when its biggest competitor Taobao Mall announced on Sept 19 an alliance with 38 online retailers. The move is likely to further consolidate Taobao Mall's leading position and possibly lead to 360Buy scaling back its rumoured ambitions for a $5bn listing in 2012.

RENMINBI COMPASS

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Renminbi Compass, a new research service launched by the FT, aims to act as a navigational guide through the expanding universe of renminbi asset classes. With the Chinese currency gaining ever-wider acceptance around the world and Beijing taking steps to open its capital account, we are broadening our research coverage to include not only equity funds but also all other important renminbi asset classes, such as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art, antiques and several others.