Mark Mobius: I Am Still Bullish on China
Leading emerging markets investor Mark Mobius is still bullish on China, despite the country's disappointing economic growth in the first quarter.
(Read More:China's Q1 GDP Growth Slows Unexpectedly to 7.7%)
"The new administration in China is just getting its game going, I think that growth engine will continue and so we remain bullish on China," Mobius, executive chairman of Templeton Emerging Markets Group, told CNBC on Thursday.
China, which is currently the world's second largest economy, will grow at 7-8 percent per annum over the next few years, forecast Mobius.
Although China has seen a 10 percent correction in mainland equities over the past two months, Mobius remains confident, and said that any investment exposed to Chinese consumers could prove attractive.
(Read More: Why China Market Bulls Aren't Surrendering)
"Once the banks get their balance sheets in order, they will be attractive as they are consumer related, along with the oil companies, which are consumer led to some extent," he said.
Mobius, who has more than 30 years of experience in emerging market investing, also favors frontier markets. "Frontier markets are where the action is now. When you look at Africa, there are lots of liquidity problems but it still looks very compelling," he said.
(Read More: Fund Managers Say Goodbye China, Hello Japan)