Rumor: 360Buy Extends Supplier Payment Period
CCIDnet, 8/16/12
Beijing-based B2C e-commerce platform 360Buy has reportedly extended its supplier payment period to 120 days, longer than the generally accepted industry standard of 60-90 days, according to an industry source. Li Dongsheng, chairman of Chinese consumer electronics manufacturer TCL Corporation (000100.SZ), said in a recent interview that a major e-commerce firm had recently negotiated to extend its payment period, about which he has personal reservations. According to the source, the company in question is 360Buy.
Keywords: procurement Li Dongsheng consumer electronics e-commerce Internet B2C 360buy TCL Corporation 000100.SZ
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