"Recently, Bill and I wrote that we expected China to surprise the world in how it embraces philanthropy," Buffett added in the press release. "Hearing about the giving that happens at every level of society in modern China was inspiriting."

"If Bill and I could contribute to encouraging the very fortunate to follow their desire to do more, then our trip was a complete success," Buffett said.

Gates and Buffett also accepted an invitation of a Chinese charity, the China Social Welfare Education Foundation (CSWEF), to become its advisors.

The American billionaires also expressed their concern and support to the CSWEF and the Chinese philanthropy, according to a statement from the CSWEF on Wednesday.

Gates and Buffett's joining as advisors of the CSWEF would bring renewed enlightenment to China's charity and hopefully their experiences and passion in charity would be shared and promoted, said Miao Li, vice-chairwoman of the CSWEF.