Beijing has been revealed as the biggest market for shark fin in China, where at least 100 million yuan ($16 million) is spent on the consumption of this traditional Chinese delicacy daily, according to the China Economic Weekly.

It reported that daily consumption in Beijing is about 7,500 kilograms and the price for a bowl of shark fin soup can reach 1,800 yuan in some luxury hotels.

"I don't think shark fin dishes are too delicious to give up, but you know, it's like a symbol standing for sincerity and identity. My guests will know they are important to me if I order shark fin or Maotai, the best-known alcohol in China, for them," said a businessman surnamed Chen from Shanxi Province, who runs a real estate company. 

According to the World Wide Fund for Nature, about 73 million sharks are killed each year for their fins and half of them are sold to Hong Kong.

Although the campaign to reject shark fin consumption is gaining traction in China, it has not put a chill into the shark fin market in Beijing, the China Economic Weekly report said.

Liufu Shark Fin Restaurant in Beijing Financial Street in Xicheng district told the Global Times shark fin is the specialty of their restaurant, which attracts many customers every day.

"The price for a bowl of shark fin soup in our restaurant ranges from 128 to 1,200 yuan," said an employee working at the restaurant.  

Wang Xue, from Beijing-based environmental NGO Green Beagle who is responsible for its "China Zero Shark Fin," project said that a survey it conducted at the end of 2011 shows that over 99 percent of the 131 four and five-star hotels in Beijing still sold shark fin, and only one refused to provide the dish.

"Although the situation seems better now, after some enterprises and hotels banned shark fins, these dishes are still popular in China, which is the biggest global market for the fins. I think the figure of 100 million yuan daily is not an exaggeration," Wang said.

Official and business banquets are the major sources of shark fin consumption now, he noted. 

"I know that shark fin dishes will be banned from official banquets in three years, but we don't know how it works now. And it won't stop businessmen inviting officials to have shark fin dishes," said Wang.

According to the Xinhua News Agency, China will begin prohibiting shark fin soup from official government banquets and functions, the State Council announced in July. 

"However, China has no rules to regulate shark fishing and the sale of shark fin, so I believe our next step will be to urge government to make legislation," she said.

China Aquatic Association claimed last month that consumption of shark fin is part of traditional Chinese culture and alleged that since the sharks are already dead, it would be a waste if the fins were not used.

The association refused to comment Wednesday, saying that its spokesperson is overseas.

"In reality, most sharks are killed to get their fins," said Wang.

New York-based NGO sharksavers.com states on its website that one third of all sharks are threatened with extinction. Most sharks are "finned," with the body thrown back into the sea to die. The fins are three percent of its body weight, the website says.

High-profile Chinese celebrities, including basketball star Yao Ming, have pledged not to eat shark fin, and some hotels have banned it, including major Asian chains Peninsula Hotels and the Shangri-La Hotel Group. 

The South China Morning Post reported Wednesday that Cathay Pacific has banned shark products  from its cargo flights, after a campaign by several environmental groups. The airline was thought to carry 650 tonnes of shark fin into Hong Kong last year, 50 percent of all imports by air.

According to local government data, over 10,200 tonnes of shark fin were imported into Hong Kong in 2011, of which 13 per cent was by air cargo, the  report said.