China's gift to Ecuadorian president auctioned to help indigenous community

A Chinese bike, the Asian country's official gift to the Ecuadorian President during his China's visit, was successfully auctioned on Saturday at 23,000 U.S. dollars, which will be used to help a indigenous community in the South American country.

The limited edition Flying Pigeon mountain bike with the Ecuadorian national flag's colors was the first item auctioned off in the government's project to raise money for a social housing project for the indigenous community of Zumbahua in the central-north province of Cotopaxi.

The bike, given as a official gift to President Rafael Correa in January 2015 during his visit to China, was firstly set at a base price of 1,200 dollars.

Ecuadorian citizen Galo Valarezo, who lives in Virginia, the United States, bought it.

Correa will deliver the bike in person to Valarezo as he is currently in the United States participating in the United Nations (UN) General Assembly, Ecuador's Vice President Jorge Glas said.

As of Saturday, a Rolex watch given by the emir of Qatar was also on the auction table, with a base price of 8,000 dollars.

This project is led by the president's son Miguel.