AsianFin -- China’s top securities regulator has added his voice to the global praise for Warren Buffett following the legendary investor’s announcement that he will step down as CEO of Berkshire Hathaway.

“Although Mr. Buffett is retiring as CEO, the core principles of long-term value investing, rational decision-making, and creating returns for investors will never retire,” said Wu Qing, chairman of the China Securities Regulatory Commission, at a press conference in Beijing on Wednesday.

Wu appeared alongside other senior officials, including the head of the People’s Bank of China, to unveil interest rate cuts and a package of policy measures aimed at calming markets rattled by ongoing trade tensions. While those efforts target near-term volatility, Wu emphasized that China is committed to cultivating investment firms that embrace Buffett’s long-term philosophy.

“Perhaps we won’t just see one or two ‘stock gods’—we will see century-old institutions and outstanding investment teams emerge in our market,” he added.