China News Service, October 15 (Reporter Li Shuzheng) The new crown epidemic has brought great impact and huge challenges to the global economy.
Howard Marks, the founder and co-chairman of Oaktree Capital, stated in a video speech at the first New Finance Youth Forum on the 15th that China has taken active measures to offset the economic impact of the epidemic.
The epidemic has brought many new challenges to the global economy.
Global supply chains and industrial production have suffered unprecedented shocks, and international trade and investment have shrunk sharply.
Protectionism and unilateralism are rampant, and economic globalization has encountered an unprecedented countercurrent.
Howard Marks said in his speech, however, under such a severe impact, China's pace of opening up to the outside world has not stopped.
The continuous introduction of financial reform and opening up measures successfully responded to the impact of internal and external risks and ensured the stable operation of the financial system.
"China has demonstrated its excellent governance strategies, decisiveness and crisis response capabilities, and has taken active measures to offset the impact of the epidemic on the economy. Therefore, China is the only major economy in the world that will achieve positive GDP growth in 2020." Howard Marks said.
Oaktree Capital is a long-term investor in the Chinese market, investing in various assets with a total investment of more than 30 billion yuan.
After the Shanghai Qualified Domestic Limited Partnership (QDLP) project was launched in 2013, Oaktree Capital became the first batch of managers to obtain the QDLP pilot qualification.
Since then, Oaktree has established a wholly-owned subsidiary in Shanghai to cooperate with Chinese financial institutions to develop business in China.
During the 2020 epidemic, Oaktree once again established a wholly-owned subsidiary in Beijing.
"We have been in China for a long time and have witnessed the tremendous changes in China's economy and China's financial market." Howard Marks said: "We firmly believe that China has long-term development potential, and the Chinese market is particularly important to us." (End)