Shark fin is a Chinese delicacy that has been served on special occasions for centuries. In years gone by, those who could afford the luxury of shark fin-based meals-such as soup-oftentimes represented a high social status, as shark fin was and still is an expensive dish.

It has been estimated that nearly one million sharks are killed every year in order to access their fins. Furthermore, it has been reported by the International Union for Conservation of Nature that one quarter of the world's sharks are being threatened with extinction.

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Because of its reputation for selling various forms of luxury goods, China has become the epicenter of the shark fin market. Dating back to the early roots of Chinese culture, shark fin can be prepared in several different ways and can cost up to $2,000 for a serving at a high quality setting.

However, shark fin sales have been significantly decreasing over the last fifteen years.

What is the reason behind the main decrease in shark fin sales?

It has been speculated by traders that an anti-corruption drive coordinated by the Chinese government is one of the key components in the significant decline. In 2012, shark fin had been banned by the government from being sold at state events.

While the new government ban may have affected shark fin sales, younger generations are now choosing not to consume shark fin dishes out of concern for the environment. Other popular places that have sold shark fin in the past - including hotel chains and airlines - have also stopped participating in the shark fin industry.

The United States organization, WildAid, has recently reported that the shark fin sales in China have dropped by nearly 70 percent.

Likewise, Guangzhou-known as one of the largest regions to specialize in the shark fin trade-had its shark fin sales drop by an even higher rate. WildAid reported that Guangzhou's sales have decreased by 82 percent.

However, it has also been disclosed by the WildAid Executive Director, Peter Knights, that the decline in the shark fin industry may further help put an end to shark endangerment.

TagsGuangzhou, WildAid, Peter Knights, International Union for Conservation of Nature