CHENGDU, Jan. 3 (NBD) -- China will phase out the processing and sale of ivory and ivory products by the end of 2017, according to a notice released by the General Office of the State Council. 

The decision is cheered by environmentalists around the world, and shows China's ambition to crack down on elephant poaching and ivory trade. 

A report once said that the annual illegal ivory trade is worth up to 10 billion US dollars. 

Under the circular, 10 to 15 ivory processing enterprises and 50 to 60 designated trading locations will be shut down by March 31, 2017, and all remaining processing and marketing units will be ordered to wind up business by December 31, 2017. 

Meanwhile, to protect ivory carving skills, the Ministry of Culture of China will encourage engravers to preserve their skills by working on alternative materials.