Renowned investor Jim Rogers has revealed that he has begun buying Chinese shares again as the market has bottomed.
Mr Rogers, who founded the Quantum Fund with George Soros in the 1970s, said he would be focusing his interests on agriculture, tourism, airlines and education at a seminar in Beijing.
He recently sold his mansion in New York to move to Singapore, citing the investment potential in the Asian markets as the key factor.
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He said: "All my new money goes to commodities and China. All the panic looks like a bottom.
" I have bought in the last four to five weeks. I've been buying shares in China for the first time in a long time."
China's benchmark CSI 300 Index has plunged by almost 40pc this year, amid speculation that government steps to quell inflation would hurt corporate profits.
The slump triggered government moves to support the market, with the latest taking effect on April 24, when the tax on stock trading was reduced.
Chinese stocks jumped 9.3pc that day, the most since October 2001.
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