The Chinese bahaba, a rare fish caught by a Fujianese fishermen. The monetary value of the fish has earned it the name of "Gold fish." (Internet Photo)

Chinese bahaba caught by Fujianese fishermen. (File Photo/CFP)

A poor fisherman in Fujian has made a fortune from a rare fish he caught in the sea on Aug. 14 which has been bought by a fishmonger for 3 million yuan (US$470,000), reports the Fujian-based news website Haidu.

The man strictly speaking "picked up" the fish when he found it floating on the surface of the sea. When he brought it back to the town, many people came out to see the 80kg behemoth he had lugged back. To his surprise, fishmongers starting bidding incredible amounts for the fish when they identified it as a Chinese bahaba, a valuable and critically endangered fish that is compared to gold in the fish market.

The bahaba was eventually sold to a fishmonger that paid the fisherman 40,000 yuan (US$6,200) per kilogram. The fisherman has made 3 million yuan from the windfall and can now afford a bigger boat to replace his small one.

The fish, found off the coast of China between the Yangtze and Pearl river deltas, is considered endangered due to overfishing. Its outrageously high price is on account of its value in Chinese medicine, as its bladder is used to treat diseases related to the lungs and heart.