Billionaires Warren Buffet and Bill Gates are co-hosting a charity banquet in Beijing Wendesday night.

It's at the Chateau Laffitte Hotel, in the capital's northern suburbs. The guest list includes the richest of the rich... Jack Ma, the founder of Alibaba, and real estate tycoon Pan Shiyi. The main topic at the banquet is charity.

Media reported earlier the aim of the dinner was to convince China's wealthiest to donate to charity. But Buffet and Gates have denied that.