Future Fintech Engages Nobel Prize Winner Finn E. Kydland as Honorary Chief Economist to the Company

Rhea-AI Summary

Future FinTech Group Inc. (NASDAQ: FTFT) announced the appointment of Dr. Finn E. Kydland as Honorary Chief Economist effective June 17, 2021. Renowned for his contributions to macroeconomics and a Nobel Prize winner in 2004, Dr. Kydland brings significant expertise to the company. His role will focus on providing insights into monetary policy, business cycles, and corporate strategy, particularly as FTFT transitions to a challenger bank. CEO Shanchun Huang expresses confidence in Dr. Kydland's ability to aid the company's growth in a changing financial landscape.

Positive

• Appointment of Nobel Prize-winning economist Dr. Finn E. Kydland as Honorary Chief Economist.
• Dr. Kydland's expertise in macroeconomics will enhance strategic decision-making.
• His role is expected to provide valuable insights for the company's evolution into a challenger bank.

Negative

• None.

NEW YORK, June 23, 2021 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as "Future FinTech", "FTFT" or "the Company"), a leading blockchain-based e-commerce business and a fintech service provider, announced today that effective June 17, 2021, Finn E. Kydland will join the Company as Honorary Chief Economist.

Dr. Kydland graduated from the Norwegian School of economics and business administration with a Bachelor's Degree in Economics in 1968 and received a Ph.D in Economics from Carnegie Mellon University in 1973. Dr. Kydland is currently professor of economics at the Tepper School of Business of Carnegie Mellon University, Director of Laboratory for Aggregate Economics and Finance (LAEF) at the University of California, Santa Barbara, and a visiting Professor at the Norwegian School of Economics. Previously, Dr. Kydland was a Professor in the Department of Economics at the University of Texas and a visiting Professor at Athens University of Economics and Business. Dr. Kydland is also associate researcher at the Federal Reserve Bank of Dallas and the Federal Reserve Bank of Cleveland.

Dr. Kydland was awarded the Nobel Prize in economics in 2004 for his contributions to dynamic macroeconomics, the consistency of economic policy over time and the driving forces behind business cycles. Dr. Kyland is widely recognized as an economic expert with rich experience both in academic and business. He has won numerous awards in finance, banking, currency and other fields.

Dr. Kydland said, "I am pleased to have the opportunity to work with Future FinTech. The Company is at the forefront in the blockchain and financial technology space. I look forward to working with their team to build a sustainable fintech enterprise that can optimize its market positioning in ever-changing business cycles and capital markets environments."

Shanchun Huang, Chief Executive Officer of Future Fintech said, "We are delighted to have Dr. Kydland join the Future FinTech team. Dr. Kydland is highly knowledgeable about monetary banking and business cycles and their impact on companies, and we are highly confident that he will provide excellent insight into our business decisions and corporate strategy. Further, we would value Dr. Kydland's recommendations and introductions of high-talent personnel to the company as well as guidance as to training and scientific research."

"Dr. Kydland has served as distinguished consultant for governments, research institutions and universities in many countries around the world. Given today's turbulent global politics and economy, the importance of advice and insight from leading figures in the field of macroeconomics such as Dr. Kydland is of vital importance for the formulation and implementation of economic policies for companies in China and the US. In particular, Dr. Kyland's working experience at the Federal Reserve Bank will help to provide valuable advice and suggestions on technical models and business policies for the company's transformation into a challenger bank, one that uses modern financial practices and operates online or through an app." CEO Huang concluded.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL) and an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://ftft.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2020 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

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SOURCE Future FinTech Group Inc.

FAQ

Who is the new Honorary Chief Economist at Future FinTech (FTFT)?

Dr. Finn E. Kydland has been appointed as the Honorary Chief Economist of Future FinTech, effective June 17, 2021.

What expertise does Dr. Finn E. Kydland bring to Future FinTech (FTFT)?

Dr. Kydland is a Nobel Prize-winning economist known for his work in dynamic macroeconomics and business cycles.

How will Dr. Kydland's role impact Future FinTech (FTFT)?

His insights on monetary policy and business cycles are expected to guide Future FinTech's corporate strategy and transformation into a challenger bank.

When was Dr. Kydland appointed to Future FinTech (FTFT)?

Dr. Kydland was appointed as Honorary Chief Economist on June 17, 2021.