China counteracts pandemic impact with proactive measures: Oaktree Capital founder

(ECNS) -- China has introduced proactive measures to counteract the impact of the pandemic on its economy, and China’s long-term potential of economic and financial development is still promising, said Howard Marks, founder of Oaktree Capital Management, at the First Finance Youth Forum held in Shanghai on Friday.

In his speech, Marks pointed out that China still ensures the stability of its financial system via financial reform measures and hasn’t slowed its pace of opening up regardless of rampant nationalistic protectionism and unilateralism in the world during the pandemic.

“China has demonstrated skillfulness, decisiveness and the ability to mobilize under crisis conditions,” said Marks. “As a result, China was the only major economy to record positive GDP growth in 2020.”

As a leading global asset management firm, Oaktree Capital Management has been a long-time investor in China, with over 30 billion yuan ($4.7billion) invested in Chinese assets across listed equities, corporate debt and real assets.

It has been selected among the first batch of qualified foreign institutions to participate in the Shanghai QDLP pilot program when it was launched in 2013.

“We’ve been fortunate to play a part in China’s economic and financial development,” added Howard Marks, “and we continue to hold high conviction regarding China’s long-term potential.”

The First Finance Youth Forum, themed “New Era, New Finance, New Youth”, kicked off in Shanghai, China, on Friday.

　　版权及免责声明：凡本网所属版权作品，转载时须获得授权并注明来源“东盟评论社”，违者本网将保留追究其相关法律责任的权力。凡转载文章，不代表本网观点和立场。版权事宜请联系：。