Paul Bird Motorsport rider Glenn Irwin was declared the victor of the Sun City Group Macau Grand Prix 51st Edition following a red flag on the sixth lap of the 12-lap race.
Daniel Hegarty, 31, who was racing for Topgun Racing Honda, came off his bike at a sharp bend during the sixth lap and was flung into barriers, losing his helmet and sustaining fatal injuries.
With the scene set for a classic battle, the race was stopped after six laps by red flags following a serious incident at Fishermen's Bend.
The statement added that Hegarty died while he was being transferred to hospital.
Irwin is the first rider from Northern Ireland since Phillip McCallen in 1996 to win the race.
"It's a tragic end to the day - that's not even a podium, we stood on a box with three steps", Irwin said.
Mr Hegarty made his debut at the Chinese road race in 2016, finishing in 16th place.
Hegarty's girlfriend Lucy Draycott said she had lost "the love of my life".
This is the second deadly accident at the Macau GP since 2012, after Luis Carreira of Portugal died on the same turn.
'I just need time to take in what has happened and would appreciate if people could just be patient with me and wait for contact'.
Macau, a resort city in southern China, has been hosting the street race for cars and motorbikes since 1954.
'It is a double tragedy for Top Gun Racing, as Gavin Lupton succumbed to injuries sustained at the Ulster Grand Prix earlier in the season.