By Li Hongmei

Jim Rogers may sell off his assets, but he's holding on to his Chinese stock for his daughters, the billionaire American investor said at a precious metals forum in northeastern China's Liaoning province on Friday.

The 71-year-old billionaire, co-founder of the privately owned hedge fund Quantum and one of the Chinese economy's biggest advocates, told the audience in attendance that the first time he bought Chinese shares was in 1988, and he subsequently made more purchases in 1999, 2005 and 2008, and most recently following the 18th National Congress of the CPC Central Committee in November 2012.

He said while he may start selling off some of this other assets, he will hold on to his Chinese shares for his young daughters, 10-year-old Happy and six-year-old Baby Bee.

Rogers also remained optimistic about the future of the renminbi, which he said will only become more and more valuable and will eventually take over the US dollar as the world's primary reserve currency.

Rogers said the renminbi is the only currency that he believes will continue to climb and that he will not sell off the renminbi he currently holds. One day, the renminbi market will be more open and the market will become more lively as its convertibility increases, he added.

On the other hand, the status of the US dollar as the world's primary reserve currency will continue to change, Rogers said, as the United States is the most indebted country in history and has few opportunities to reduce its debt in the foreseeable future. In the next two or three years, when the market is really confused, a lot of people around the world may start selling off their US dollars, Rogers added.

China's economic development may run into some setbacks over the next 10 to 15 years, but it will not hinder the steady implementation of the country's economic reforms, Rogers said.