Wang Junyao, who founded China's first private charter airline and was one of the mainland's top entrepreneurs, has died.

Chinese state-run media report Mr. Wang died this week from intestinal cancer. He was only 38.

Mr. Wang began his charter flight service in 1991. That service would turn into a corporate empire that included real estate development and milk production.

China says Mr. Wang's company was worth about $300 million at the time of his death.

Some information for this story provided by AP.