Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 241

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 241
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 According to the 2021 China Private Wealth Report, almost 50% of respondents considered Hong Kong as their offshore
asset destination or entrepôt (a port destination where assets and goods are traded, imported, and exported).

Cross-Border Wealth Management Connect

On June 29, 2020, the People’s Bank of China, the Hong Kong
Monetary Authority (HKMA) and the Monetary Authority of Macau jointly announced the introduction of the cross-boundary wealth management
connect pilot scheme (Wealth Management Connect scheme) in the GBA, which will allow residents in the GBA to invest in wealth management
products distributed by banks across the region. The scheme helps promote investment diversification and facilitate capital flow within
the GBA, promote RMB internationalization and strengthen Hong Kong’s status as an offshore RMB hub.

According to the implementation rules of the Wealth
Management Connect scheme published by The People’s Bank of China in September 2021, there will be an aggregate investment
quota of RMB150 billion in each of the “northbound Connect” and “southbound Connect” schemes, with an individual
investment quota up to RMB1 million. Recognized investment products under the “Northbound Scheme” include fixed income
(primarily bonds and deposits) and equity wealth management products, along with public securities investment funds with low or medium
risk rating. Complex investment products with high volatility or leverage are currently excluded. The scheme is expected to facilitate
a total fund flow of RMB300 billion (US$47 billion) in the sale of investment products.

The Wealth Management Connect scheme officially
launched in September 2021, and banks may start offering cross-boundary wealth management connect services upon completion of
the relevant preparatory work, and subject to regulatory approval.

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Future expansion plan to China

With the business opportunities brought by the Wealth Management Connect
scheme introduced by The People’s Bank of China, and the upcoming Insurance Connect introduced by the China Insurance Regulatory
Commission, China will be one of AGBA Legacy Group’s focus areas with an increasing addressable market and opportunity set.

AGBA Legacy Group intends to leverage the Legacy Group’s two
decades of experience operating in China, and is therefore particularly well-positioned to capture the emerging opportunities. Currently,
AGBA Legacy Group does not have any Chinese operating companies and does not plan to use “variable interest entities” in future
to conduct its operations. While AGBA Legacy Group has