China bets on patient capital as Buffett steps down, seeking to revive Wall Street interest

China is betting that patient capital, rather than quick trades, will define its next phase of growth – a wager that has taken on new resonance since Warren Buffett stepped down last week after growing Berkshire Hathaway into a US$1 trillion empire over six decades.

And as global investors watch this week’s US-China leadership summit for any sign of easing friction, one question is whether Beijing’s version of Buffett’s value-investing legacy can help Wall Street regain its appetite for Chinese assets.

“The long-term return nature of Berkshire’s philosophy coincides with China’s economic philosophy,” said Tommy Ong, managing director of Hong Kong-based T.O. & Associates Consultancy.