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The report said the government would auction licenses based on types and numbers of wild animals, ranging from about $200 for a wolf, the only carnivore on the list, to as much as $40,000 for a yak.
The auction, taking place on Sunday in Chengdu, capital of the southwestern province of Sichuan, would be the first of its kind in Chinese history, it added.
Hunting licenses would be available only to foreigners because of China's strict rules on gun controls.
And what will happen to the money raised from hunting licences?
It will be used for wild animal protection.