Microsoft Corp co-founder Bill Gates (L) and billionaire investor Warren Buffett (C) meet China's super rich yesterday in Beijing to promote philanthropy. Before a private dinner at the Chateau Laffitte Hotel, Gates and Buffett talked with 50 Chinese businessmen and philanthropists to share their own experiences with and enthusiasm for philanthropy. The meeting was presided over by the Sun Culture Foundation Chairwoman Yang Lan (R).

Microsoft Corp co-founder Bill Gates and billionaire investor Warren Buffett met China's super-rich Wednesday in Beijing to sell the art of giving over a dinner that sparked some soul searching among the world's second-largest number of billionaires.

Although the two said they would not be asking China's newly minted millionaires to give up their fortunes, there have been reports invitees were reluctant to attend because they did not want to be pressured.

In response, Gates and Buffett, who have campaigned to persuade American billionaires to give most of their fortunes to charity, issued a letter earlier this month saying they wouldn't be pushing anyone to give up their fortunes but wanted to promote philanthropy.

Before the private dinner at the Chateau Laffitte Hotel, Gates and Buffett met with 50 businessmen and philanthropists in China to share their own experiences with and enthusiasm for philanthropy, said a statement from the Bill and Melinda Gates Foundation Beijing Representative Office.

"The meeting was a complete success," the press release quoted Buffett as saying after the 90-minute meeting.

"Our hopes for this meeting were to learn about giving in China, and share our own views," said Buffett. "By any measure, it was a tremendous success. We had a terrific exchange of views, and learned a great deal about the good work that is already underway."

"We've both been very eager to have this meeting," Gates said.

"We're grateful so many people made the time to attend, and for their candor and insights," Gates said. "People are doing some very good thinking about how their good fortune can have a positive impact on China and the world."

Buffett said in the press release that "this is a key generation for New China."

"Today's generation of successful entrepreneurs has the chance to lead and inspire giving for generations to come. And from the tone of our conversations, I am confident that they will," he said.

At Buffett and Gates's request, the guest list was not made public. But it included Wang Chuanfu, chairman and CEO of BYD Co; Guo Guangchang, CEO of Fosun International Limited; Zhang Chaoyang, chairman of Soho.com; and Jack Ma, chairman of Alibaba Group.

Recently, 40 wealthy families in the United States agreed to participate in the Giving Pledge, an effort by Gates and Buffett to secure commitments from wealthy families to return the majority of their wealth through philanthropy - during their lifetime or at their death.

According to the press release, Gates and Buffett spoke of the Giving Pledge effort briefly at the meeting, but stressed that China needs its own approach, suited to its unique situation, to promote charity. "Recently, Bill and I wrote that we expected China to surprise the world in how it embraces philanthropy," Buffett added in the press release.

(Xinhua News Agency September 30, 2010)