Zhang won $150,000 and it is customary to give the caddie 5-10 percent of the payout. The $700 figure is only 0.5 percent.
Zhang, a Chinese, says that China laws restrict the amount of foreign currency that Chinese citizens can carry out of the country. He would probably have given the Singapore caddie - Osman Juani - more when he returned home to China, Zhang says, but now Zhang will play him nothing.
'I was very upset that he did not come to speak to me first, because it is a private matter that can be solved between the two of us. It should not have been publicised,' Zhang told the Straits Times of Singapore.
'I gave him all the money I had in my pocket. I had brought only US$800 and some Singapore currency for the Caltex Masters, as China forbids its citizens from bringing more than US$1,000 out of the country.
'After paying my registration fee, I had about US$730 left. So after I won the Masters, I gave all that I had in my pocket to my caddie.
'I was a little embarrassed at having so little money, but I would have definitely tried to give more money because he deserves to get more.
'I would have signed a cheque when I returned home, which is what I normally do with other caddies.
'Maybe I had not told him clearly that I would do so, but I was tired after the win and my mind was wandering.
'I was also anxious to call my family and agents to let them know the good news.
'After I had showered and changed, Laguna National Golf and Country Club captain Ronald Ho told me that the caddie had complained to the club and the media.
So will he sign a check for Osman, now that he is back home?
'Now that the damage to my reputation is already done, I don't see the point of giving any more money to him. It would not make any difference,' said the Chinese pro.