Tian Hong Fund Company is a formal public securities investment fund company in China. Public offering fund (), a public offering fund is a securities investment fund that is supervised by the competent government department and publicly issues beneficiary certificates to unspecified investors. Under the strict supervision of the law, these funds have industry norms such as information disclosure, profit distribution and operation restrictions.

Yu 'ebao is Tian Hongzeng Libao Monetary Fund under Tian Hong Fund Company. The balance treasure on Alipay will not be illegal fund-raising. Such a big sport would have been investigated if it was illegal.