According to a report in China News, Cao Xiaofeng, Chairman of Migang, said;
“Risk control has been a challenge for P2P sector, and we aim to build a safe platform for investors by our professional capabilities and business pattern innovation.”
The report also stated that wealth management products purchased on the Migang platform will be underwritten by Tianan.
Peer to peer lenders are presently adjusting lending practices to recently announced reforms. Many are also looking to diversify into other financial verticals. China is host to the largest peer to peer lending market in the world.