In a bid to fuel the companys growth， Chinese e-commerce giant 360buy sold a $400-million stake to a Saudi Arabian company.

Kingdom Holding Co. （KHC）， which is owned by billionaire Al-Waleed bin Talal， a member of the Saudi royal family， led the stake acquisition， 360buy said on February 16.

The acquisition was part of 360buys fourth round of financing， which has raised a total of$700 million.

The other three rounds occurred in 2007， 2008 and 2011， which raised $10 million， $21 million and $1.5 billion， respectively.

The main investors in this round included KHC， the Ontario Teachers Pension Plan in Canada and other major 360buy shareholders.

360buys sales volume exceeded 60 billion yuan （$9.63 billion） in 2012 and is expected to top 100 billion yuan （$16 billion） this year.

Heading Southwest

The worlds largest convenience store company， 7-Eleven， plans to expand in southwest China.

Its reported that the company will open stores in Chongqing Municipality later this year.

7-Eleven has already opened 90 stores in Chengdu， capital of southwest Chinas Sichuan Province. It plans to increase the number to 140 this year.

7-Eleven has 40，000 stores around the world， with more than 1，800 on the Chinese mainland and about 8，030 in the United States and Canada.