<SEC-DOCUMENT>0001213900-20-023472.txt : 20210112
<SEC-HEADER>0001213900-20-023472.hdr.sgml : 20210112
<ACCEPTANCE-DATETIME>20200824161019
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-20-023472
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Future FinTech Group Inc.
		CENTRAL INDEX KEY:			0001066923
		STANDARD INDUSTRIAL CLASSIFICATION:	CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030]
		IRS NUMBER:				980222013
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 2302, SOUTH TOWER T1, KAISA PLAZA
		STREET 2:		NO. 86 JIANGUO AVENUE, CHAOYANG DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100025
		BUSINESS PHONE:		86-29-88377161

	MAIL ADDRESS:	
		STREET 1:		ROOM 2302, SOUTH TOWER T1, KAISA PLAZA
		STREET 2:		NO. 86 JIANGUO AVENUE, CHAOYANG DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SkyPeople Fruit Juice, Inc
		DATE OF NAME CHANGE:	20080610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENTECH ENVIRONMENTAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20040323

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CYBER PUBLIC RELATIONS INC
		DATE OF NAME CHANGE:	20010111
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 24, 2020</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 49.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>VIA
EDGAR</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
Securities and Exchange Commission</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Division
of Corporation Finance</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
F Street, N.E.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington,
D.C. 20549-0405</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:
Karina V. Dorin</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 48px; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Future
    FinTech Group Inc.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
                                         Statement on Form S-3 </B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Response
        date  August 24, 2020</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File
        No. 333-224686</B>&nbsp;</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Ms. Dorin:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Future FinTech Group Inc. (&ldquo;FTFT&rdquo;
or the &ldquo;Company&rdquo; and sometimes referred to as &ldquo;we&rdquo; or &ldquo;our&rdquo;) is submitting this letter and
the following information in response to a letter, dated February 7, 2019, from the staff (the &ldquo;<B><I>Staff</I></B>&rdquo;)
of the Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) with respect to the Company&rsquo;s Registration
Statement on Form S-3 (the &ldquo;<B><I>Registration Statement</I></B>&rdquo;) filed with the Commission on May 4, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Concurrently with the submission of this
letter, the Company is filing Amendment No.&nbsp;1 to the Registration Statement (the &ldquo;Amended Registration Statement&rdquo;)
via EDGAR with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Staff&rsquo;s comments are repeated below in bold and are
followed by the Company&rsquo;s responses. In addition to revising the disclosure in response to the Staff&rsquo;s comments, the
Company has also included other information and data to reflect recent developments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>General</U></B></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 36px; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note your response to comment 1 and reissue it in part. Disclosure at page 9 of your quarterly report on Form 10-Q for the
    quarter ended September 30, 2018 states that the Shared Shopping Mall is expected to be in operation in December 2018. Please
    disclose whether your Shared Shopping Mall platform will provide for other digital currencies, in addition to mBTC and Bitcoin,
    to be exchanged on that platform and, if so, describe all such other digital currencies, their respective characteristics,
    and whether you believe such platform will be required to be registered as a national securities exchange, an alternative
    trading system or broker-dealer under the Securities Exchange Act of 1934.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt">Response: The Shared Shopping Mall platform, Chain
Cloud Mall (CCM) was officially launched in January 2019 and it does not provide, support or accept any digital currency payments
or exchanges, including mBTC or Bitcoin. The Company has determined that CCM is and will continue to be a block-chain based shopping
mall for merchants and goods, not the exchange of digital currencies, and it only accepts payment from credit cards, Alipay and
Wechat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 0%; text-indent: 0"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 36px; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Your
    response to comment 1 states that the DCON Token is different and separate from mBTC and that any party that wants to provide
    exchange services on the DCON platform will be required to pledge/deposit certain amounts of DCON token with the platform
    &ldquo;for the potential liabilities.&rdquo; Please further explain this requirement and clarify the difference between your
    DCON token and mBTC. Additionally, you indicate in response to comment 2 that DCON tokens might be considered to be securities.
    Please include risk factor disclosure discussing the regulatory framework applicable to these assets, particularly with respect
    to their issuance and trading in secondary markets.</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3.45pt; font-size: 10pt; width: 0%"></TD>
    <TD STYLE="padding-top: 3.45pt; font-size: 10pt; width: 36px">&nbsp;</TD>
    <TD STYLE="padding-top: 3.45pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Response: due to the regulatory consideration, the Company has stopped the business plan of issuing any DCON Token and retracted all the outstanding DCON Tokens that were previously issued.&nbsp;&nbsp;As discussed in our previously response to Staff, when the Company acquired DCON in January 2018, it had 100 million tokens issued and outstanding, which are completely pre-mined tokens. These tokens were issued to its management and technician teams, the DCON foundation or given away for free during the platform&rsquo;s promotional period and they haven&rsquo;t been issued for consideration.&nbsp;&nbsp;DCON has not issued any additional tokens since it was acquired by the Company in January 2018. In the future, DCON plans to provide technical service and support for real name, blockchain based assets, their operating entities and other financial institutions. DCON will develop financial and credit related big data mining algorithm for financial institutions and provide blockchain payment verification service to generate its revenue.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 36px; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note your response to comment 2 and reissue it in part. Please provide us with analysis explaining whether mBTC and INU tokens
    are securities as defined in Section 2(a)(1) of the Securities Act. In addition, please tell us whether you intend on holding
    these tokens or any other digital assets. Your analysis should specifically address the distinct characteristics of each kind
    of token or other digital currency and how those characteristics affect your conclusions.</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3.45pt; font-size: 10pt; width: 0%"></TD>
    <TD STYLE="padding-top: 3.45pt; font-size: 10pt; width: 36px">&nbsp;</TD>
    <TD STYLE="padding-top: 3.45pt; padding-right: 19.05pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Response: We do not believe that mBTC is a security as defined in Section 2(a)(1) of the Securities Act. The mBTC has a fixed exchange rate of 1,000,000 for 1 BTC and it will not increase or decrease its value based upon the operations or development of the DCON platform. The value of mBTC might increase or decrease in connection with the value of BTC, which is not currently considered to be a security by the SEC. Any such fluctuations will be separate from the DCON platform and we do not believe that mBTC holders could have a reasonable expectation of profit in connection with development of the platform. As such, we do not believe mBTC is an investment contract or instrument in a common enterprise with a reasonable expectation of profit to be derived from the entrepreneurial or managerial efforts of others. <I>See SEC v. Edwards</I>, 540 U.S. 389, 393 (2004); <I>SEC v. W.J. Howey Co.</I>, 328 U.S. 293, 301 (1946); <I>see also United Housing Found., Inc. v. Forman</I>, 421 U.S. 837, 852-53 (1975). In addition, as discussed above, DCON no longer conducts its mBTC and BTC exchange business and will only provide technical service and support for real name, blockchain based assets, their operating entities and other financial institutions. </FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0; width: 36px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    June, 2018, Digipay Fintech Limited (&ldquo;Digipay&rdquo;), a wholly-owned subsidiary of the Company enter into an agreement
    to purchase a 10% equity ownership interest in InUnion Chain Ltd. (&ldquo;InUnion&rdquo;) as well as 20,000,000 of the INU
    tokens issued by InUnion. Due to lack of capital, the Company eventually didn&rsquo;t purchase the 20,000,000 of the INU tokens.
    We are a minority owner of InUnion and don&rsquo;t own any INU tokens, therefore we do not believe we are well placed to conduct
    such an analysis because we are not, and were not, involved in the creation, distribution or maintenance of the InUnion Token
    and do not have knowledge of or access to the information that would be necessary to analyze whether the InUnion Tokens are
    securities as defined in Section 2(a)(1) of the Securities Act.</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note you state that you do not consider yourself to be an investment company and that you do not have an intention to become
    one in the future in your response to comment 3. Please revise your disclosure to include a brief discussion of the Investment
    Company Act of 1940 and provide risk factor disclosure addressing the risks to maintaining an exemption from registration
    under such Act</B>.</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Response:
    We has revised our disclosure to include a brief discussion of the Investment Company Act of 1940 and provide risk factor
    disclosure addressing the risks to maintaining an exemption from registration under such Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><B><U>Form 8-K filed October 30, 2018</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><B><U>Exhibit 99.1</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 36px; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>It
    appears that you generate revenues from your current fruit juice business and are in the developmental stages with your new
    focus on fintech and blockchain technology. In your response to prior comment 2, you indicate that you have not yet determined
    whether the Shared Shopping Mall will issue tokens. However, you state in your investor presentation that the Shared Shopping
    Mall &ldquo;will issue tokens by using the first real-name blockchain technology developed by NRC.&rdquo; Please explain this
    apparent inconsistency to us and ensure that your public statements are consistent with the disclosures in your filings. Additionally,
    please tell us your basis for including the growth and trading volume projections for the Shared Shopping Mall for years 2019
    &ndash; 2021 at pages 17 &ndash; 19 of your investor presentation given your developmental stage status.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Response: The Company has sold its fruit juice business in February
2020 and currently generate its revenues from its CCM shopping mall. The Company has determined the shared shopping mall will not
issue or accept tokens as a payment method for its platform and it only accepts payment by credit card, Alipay or WeChat. In the
investor presentation, we meant to communicate that the stores on our platform may issue anti-counterfeit tokens (digital certificates)
generated by block-chain that was in development at that time, which has been developed into the anti-counterfeiting QR codes that
are currently used by the stores on CCM. We assist the stores on our platform to generate anti-counterfeit QR codes using block-chain,
which will be unique and attached to the products sold by such stores.    </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">Back in October, 2018, we made the growth and
trading volume projections for the Shared Shopping Mall based upon projections of the future number of VIP members on the platform,
our increased efforts for the online marketing campaign and on-the-ground promotions to attract customers becoming VIP members
as well as the growth of China online retail market. In China, revenues received by the online retail market reached RMB 6.55 trillion
in 2017, and it was expected the number in 2018 would have reached RMB 7.69 trillion based on the information from iMedia Group.
Based on our sales and marketing department&rsquo;s development plan and their discussion with outside on-the-ground and online
promotion teams, we projected that VIP members for the Shared Shopping Mall would reach 1 million, 5 million and 50 million for
2019, 2020 and 2021, respectively. According to original design, only VIP members could open stores on our platform and the minimum
purchase amount in stores on our platform required to become a VIP member is RMB 5,000, which would be subject to renewal every
100 days. Based upon the projected number of VIP members, we estimated the revenue generated by all stores on our platform for
2019 would be RMB 5 billion, excluding spending by the customers who did not reach the RMB 5,000 level (non-VIP members spending).
Based on that model and with the further development and increased functionality of the mall, we expected the annual spending for
a single VIP member in the mall would reach RMB 10,000 after 2019. Therefore, we estimated the revenues generated by all the stores,
including by VIP members and non-VIP members in the mall, for 2020 and 2021 as described in the presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">However,
the online marketing campaign and on-the-ground promotions for our shared shopping mall encountered bottle neck in early 2019
and the registrations of VIP members grew much slower than we originally projected after certain initial success. Also, due to
the trade war between US and China since September 2018, the overall economy in China has slowed down very much starting 2019
which also materially affect the growth our VIP members.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
early 2020, the COVID-19&nbsp;epidemic outbreak further delayed the Company&rsquo;s marketing plan and materially adversely affected
the Company&rsquo;s promotion strategy. In order to prevent and control the spread of the pandemic, the Chinese governments issued
administrative orders to impose travel and public gathering restrictions as well as to work from home and self-quarantine. The
Company and its marketing and promotion teams were unable to carry out in-person promotion activities and face-to-face meetings
and conference with potential clients, which greatly affected the development of new members. Currently, there are still ongoing
restrictions on large conference, promotion activities and gatherings in China. The Company&rsquo;s previous promotion strategy
relied on the training of members and distributors through meetings and conferences. These restrictions made the promotion strategy
for CCM difficult to implement. As a result, the Company is currently lacking the ability to promote the use of the CCM shopping
mall through existing marketing strategies and might have to adopt new strategy with the prolonged outbreak of Covid-19. The Company
currently cannot reasonably predict when the business activities can fully be back to normal as to the level before the outbreak
of COVID-19.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you have any further comments or require any further information or if any questions should arise in connection with this submission,
please call Mr. Jeffrey Li at (202) 298-1735 at Foster Garvey, P.C.&nbsp;</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 60%; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 40%; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very
    truly yours,</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; border-bottom: black 1.5pt solid; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Shanchun Huang</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shanchun
    Huang</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
                                         Executive Officer</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future
        FinTech Group Inc.</FONT></P></TD></TR>
</TABLE>
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