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Having successfully embarrassed many of their billionaire peers in the US into giving up chunks of their fortunes, Warren Buffett and Bill Gates (pictured) are now travelling to China.

According to wealthy Chinese tycoons who have been invited, the crusading duo will host a dinner in Beijing on September 29 for a “large group of Chinese wealthy people”.

The exclusive list of attendees includes Zhang Xin, CEO of Chinese real estate developer SOHO China, as well as Wang Chuanfu, head of car and battery maker BYD.

Also expected to attend are Duan Yongping, who spent $620,100 to have dinner with Mr Buffett in 2006, and Zhao Danyang, who spent $2.11m for the same honour in 2008.

But the fear of being asked to donate at least half their fortunes to charity has scared some of the invited Chinese tycoons away, according to the head of the Bill and Melinda Gates Foundation in Beijing.

“A small number of people declined the invitation to attend while many of the invitees called to ask whether they would be required to pledge a donation at the dinner,” director of the Bill and Melinda Gates Foundation’s China Program Ray Yip was quoted by Chinese media as saying. “Their biggest fear is being embarrassed and put on the spot.”

Mr Yip said the dinner was intended to allow Mr Gates and Mr Buffett to get to know friends, exchange ideas and look for partners who are interested in charity – and not to convince Chinese tycoons to make charity donations.

Mr Gates and Mr Buffett may send out an explanatory letter reassuring their guests that they wouldn’t be put on the spot in the way their US counterparts have been, according to Chinese media reports.

The pair launched their “Giving Pledge” initiative in June in a campaign to convince US billionaires to give up at least 50 per cent of their money to a good cause.

Within just six weeks 40 wealthy individuals and their families – including New York City Mayor Michael Bloomberg and CNN founder Ted Turner – had joined the scheme to hand over more than half their wealth.

Related reading:
The great billionaire giveaway, FT