"In Asia, our traditional values encourage and even demand that wealth and means pass through lineage as an imperative duty," the Hong Kong business tycoon said in Mandarin at the Forbes Global CEO Conference here Tuesday.

"I urge and hope to persuade you, especially all of us in Asia, that if we are in a position to do so, that we transcend this traditional belief.

"Even if our government structure is as yet not geared towards supporting a culture of giving, we must in our hearts see building society as a duty in line with supporting our children."

Li spoke to the delegates after receiving a lifetime award in recognition of his entrepreneurial achievements.

Last month, Li's company announced he had given personal holdings in a healthcare company worth more than 300 million US dollars to his charitable organisation, the Li Ka-shing Foundation.

Li has said previously he intended to give away a third of his estimated 12.4 billion US dollar fortune to charity.