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Loan Receivables
12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
LOAN RECEIVABLES

6. LOAN RECEIVABLES

 

As of December 31, 2021, the balance of loan receivables was $6 million, which was from a third party.

 

On July 30, 2021, Future FinTech (Hong Kong) Limited (“FTFT HK”), a wholly owned subsidiary of the Company, entered into a “Loan Agreement” with a third party. Pursuant to the Loan Agreement, FTFT HK loaned up to the amount of US$6 million to the third party at the annual interest rate of 10% from July 31, 2021 to March 31, 2022. As of March 31, 2022, FTFT HK has received repayment of US$6 million from the third party.