Chinese motorcycle tycoon Zhang Xue has donated five million yuan (US$735,000) to flood-stricken Guangxi right after clearing a 100-million-yuan (US$15 million) corporate debt, moving many online.
Guangxi Zhuang autonomous region, in southern China, was hit by heavy rains that caused dam breaches and flooding, which had killed 39 people.
On July 9, the founder of motorcycle manufacturer ZXMOTO posted on his social media account that the company had donated five million yuan to the Guangxi Charity Federation in support of the disaster relief work.
Zhang gained overnight global fame when French rider Valentin Debise achieved an unprecedented victory in two races in the WorldSSP class of the Superbike World Championship riding ZXMOTO’s 820RR-RS model in March.
Shortly before the disaster struck Guangxi, Zhang announced that he was paying off all the 100-million-yuan debt he owed, which reportedly included personal debt he borrowed to repurchase shares and a shortfall in the company’s registered capital.