China affirms Buffet's investment philosophy as enduring

The head of China’s securities regulator on Wednesday said Warren Buffett’s investment philosophy — long-term value investing, rational decision-making and delivering returns to investors — “will never retire,” and are aligned with the goals of China’s publicly offered fund reform.

This came after the legendary investor announced that later this year he would step down from his role as chief executive of Berkshire Hathaway.

“The era now calls for a new generation of great investors,” Wu Qing, chairman of China Securities Regulatory Commission, said in a news briefing.

Wu continued: “China has many outstanding companies and entrepreneurs, and we believe that a group of excellent investors and investment institutions will emerge from our markets.” But he added that “important rules” will be needed to help foster their emergence.

Wu said the reform aims to better align with investors’ interests, improve investment stability, enhance investor services and promote the growth of equity funds.

STAFF REPORTER