The State Administration of Industry and Commerce (SAIC) and Beijing Administration for Industry and Commerce (BAIC) signed "The Nationwide Third-party Network Transaction Platform Supervisory System" with Qihoo360 on 30 June.

According to the agreement, Qihoo360 will embark on establishing a nationwide supervisory system for the thirdparty network transaction platform, authorized by SAIC and BAIC. The system aims to fight against counterfeit products and prevent false promotion and fraudulent trading online.