The 81-year-old investment guru known as the "Oracle of Omaha" has already videotaped his performance, which is to be aired on the website of China's state television CCTV from January 23, the official Xinhua news agency said.

"We all know that Buffett is good at investment, but few knew he also did well in singing," the report quoted Wang Pingjiu, a production executive for the so-called Spring Festival Web Gala, as saying.

Wang refused to name the song that Buffett -- who holds a stake of nearly 10 percent in Chinese auto group BYD -- will perform. It is unclear where his performance was recorded.

The gala will be broadcast on CNTV.cn, and will also feature Hong Kong film and kung fu star Jackie Chan, the report said.

A condensed version of the show -- timed to mark the Chinese New Year, which falls on January 23 -- will also be aired on state television, it added.

CCTV refused to comment on the Buffett performance when contacted by AFP.

The philanthropist, who has pledged to give most of his fortune away to charity, is no stranger to China.

In September 2010, he and fellow billionaire Bill Gates triggered huge media hype when they hosted a banquet in Beijing for China's super-rich to discuss charitable giving.

The banquet prompted a huge debate about philanthropy in China, the world's second-largest economy, which had 146 dollar billionaires last year, second only to the United States' 413, according to Forbes magazine.

Buffett has long been seen as a model investor by China's growing legions of rich, many of whom hope to emulate the investment guru's feats as the nation's economy grows. (AFP)