RMB 20 million are planned to investment by 360buy.com, an IT product business-to-consumer e-commerce site in the establishment of a Shanghai-based courier service subsidiary, reports Sina.The business model presented so far will be like pay-on-delivery and has been planned to start its services in seven mainland cities of China including Suzhou, Hangzhou and Nanjing. The service name is not publically annouced yet but it known internally as "Shanghai Yuan Mai Express".
On March 1, Alibaba Group's consumer-focused e-commerce site Taobao.com announced plans to launch a limited-time delivery service that cancels delivery fees for deliveries made later than three days after purchase.
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