(Yicai) June 19 -- China is attracting more long-term capital, according to Howard Marks, co-founder and co-chairman of Los Angeles-based Oaktree Capital Management.

In some cases, investors who focus on patient capital instead of short-term returns will also provide necessary support to companies when they are in trouble to help them out, which is in line with Oaktree Capital’s investment philosophy, Marks said during Shanghai's Lujiazui Forum today.

Oaktree Capital is a world-leading manager of alternative investments. As of March 31, it had USD192 billion in assets under management and invested more than CNY45 billion (USD6.2 billion) into China.

A reliable legal system is of great significance to make investment results more predictable and to control downward risks, Marks said. Oaktree Capital is glad to see China’s efforts to improve its legal system and firmly optimistic about the country’s economic prospects, the co-chairman said, adding that the company will continue to invest in the nation.

Major economies are going through their respective economic cycles with great differences, Marks said.

The United States is facing high inflation and interest rates but the market is more resilient than expected by stock traders. Meanwhile, China is in a stage of low inflation and interest rates, which creates room to issue policies to stimulate the economy. This means that China has more options for diversified policy tools to boost and further develop the economy, he added.

Editor: Emmi Laine